Melt your butter over medium low heat in a large sauce pan.
Add in marshmallows, and stir together till marshmallows are completely melted.
Pour in your rice krispie cereal and stir together till cereal is completely coated.
Pour cereal into a 9x13 in pan and press down evenly. (Don't squish too much!)
In a medium sized sauce pan combine caramels and heavy cream over medium heat.
Stir until caramel is melted and smooth.
Toast coconut on a baking tray in an oven heated to 350 degrees for about 10 minutes, stirring regular to avoid burning.
Stir toasted coconut into the melted caramel.
Pour caramel evenly over the top of rice krispie treats.
Melt chocolate chips in the microwave in 30 second increments (for about 90 seconds total), stirring after each until smooth.
Slice rice krispie treats into pieces and remove from pan.
Dip the bottom of each piece into the chocolate.
Put remaining chocolate into a small ziplock bag and snip the corner.
Drizzle chocolate over the top of each treat.
Let chocolate set completely and serve.