Line a 8x8 straight-sided baking pan with parchment paper, leaving enough to overhang the sides, then lightly spray with non-stick baker’s spray. This helps to remove the chilled squares from the pan when ready to slice.
In a 3 ½ to 4 quart saucepan, over medium-low heat, add the unsalted butter, creamy peanut butter, and butterscotch chips. Stir until melted and smooth.
Stir in the vanilla extract and remove from the heat and allow the mixture to cool for 2 to 3 minutes to ensure the marshmallows don’t melt when mixed in.
Add the mini marshmallows to a large mixing bowl, pour the slightly cooled peanut butter mixture over the marshmallows and gently fold to combine until all the mini-marshmallows are evenly coated.
Transfer the mixture to the prepared pan and spread into an even layer.
Chill for 1 ½ to 2 hours or until completely firm.
Gently lift the peanut butter bars from the pan using the overhanging parchment paper and place onto a large cutting board.
Slice into 16 squares using a large sharp knife. You can run the knife under hot water and wipe clean between slices for smooth cuts.