Beat together cream cheese, powdered sugar, and marshmallow fluff in a large bowl until well mixed.

Melt butter, 12 Snickers, and semi-sweet chips over low heat in a medium saucepan. Stir until blended.

Add Snickers mixture to the cream cheese mixture and stir to combine.

Transfer to a serving bowl.

Crush peanuts in a food processor and top serving bowl.

Cut remaining Snickers into bite-size pieces to use as a garnish on top.