Preheat the oven to 350 degrees F. In a large mixing bowl, combine cake mix, water, egg, butter and peanut butter. Add oats and brown sugar, mix well. Gently fold in chocolate chips and M&Ms.
Spread the dough into a prepared 9x12 baking pan. (I used parchment paper for easier removal.) **If you would like thicker bars, you can use a smaller 9x9 baking dish as well.
Bake for approximately 25-30 minutes, or until golden brown. Remove from the oven and let cool completely in the pan, before slicing.