Use an electric mixer to beat together the cream cheese, butter, and peanut butter until smooth. Mix in the powdered sugar, brown sugar, flour, vanilla, and salt. Fold in the oatmeal, M&Ms, and chocolate chips.
Keep chilled* until ready to serve.
Serve with pretzels, apples, graham crackers, or butter crackers.
Notes
*The colorful candy coating on M&Ms may bleed when refrigerated due to condensation. If chilling before serving, DO NOT stir after refrigeration.