In a small Dutch oven or pot, melt the sliced butter over low to medium-low heat, stirring frequently. Reduce the heat if the butter starts to bubble. Remove from the stove once melted.
Stir in the light brown sugar and granulated sugar until the sugars appear melted, about 30 seconds. It may look like the butter and sugar aren't combining, but just keep mixing. This step is important because it cools down the butter, so that the egg doesn't scramble when it is added.
Stir in the egg and vanilla extract until well combined.
In a separate bowl, whisk together the flour, baking soda, and salt. Slowly stir this into the butter mixture, about ½ cup at a time, until just combined. Fold in the mini M&Ms and chocolate chips.
Transfer 6 large spoonfuls of cookie dough to a parchment paper lined baking sheet, leaving at least 3 inches between pieces of dough. This recipe makes 12 cookies, so the cookies need to be baked in two batches if using a standard cookie sheet.
Bake at 350F for 7 to 9 minutes. The cookies are ready when the edges appear golden and wrinkled and the center still appears a touch doughy. 7 minutes yields very soft and chewy cookies, while 9 minutes yields crisper cookies.
Remove from the oven and sprinkle with flaky salt (optional). Let rest for a few minutes before transferring to a cooling rack and baking the second batch of cookies.
Notes
Equipment note: I use a wide-bottomed pot, similar to a Dutch oven, to melt the butter because it is large enough to double as a mixing bowl and its sloped edges make it easy to stir with a spatula. The butter can be melted in a smaller pot or a skillet, but I recommend transferring it to a mixing bowl once melted.
Mixing utensil: I usually use a large spoon to make cookies but I found that a silicon spatula works best for this recipe, especially if mixing the cookies in the sauce pot/Dutch oven.
Melted butter: Cookies usually use room temperature butter creamed with sugar. I was inspired by Joy the Baker's cookies and found with testing that using melted butter creates the perfect crispy edge and soft center.