Line a cookie sheet with parchment paper and set aside.
In a large mixing bowl, combine oats, peanut butter, M&Ms, chocolate chips, and honey. Mix well.
Use a cookie scoop to portion out and place portions on the lined baking sheet. Once finished, use hands to form balls by passing the mixture back and forth between the hands while gently squeezing to compact the ingredients.
Chill in the refrigerator for 30 minutes before serving (optional).
Notes
For the best texture, chill the mixture before forming into balls. Store in an airtight container in the refrigerator for up to 5 days.