Preheat your oven to 350°F (175°C). Line a 9x13-inch baking pan with parchment paper, leaving an overhang on the sides for easy removal later.
In a large mixing bowl, whisk together the melted (and slightly cooled) butter, packed brown sugar, and granulated white sugar until completely smooth.
Whisk in the whole egg, the extra egg yolk, and the vanilla extract until well combined and the mixture lightens slightly.
Use a rubber spatula to gently fold in the all-purpose flour, baking soda, and salt. Mix just until a soft dough forms and no dry streaks remain. Do not overmix.
Fold in 1/2 cup of the holiday M&Ms and 3/4 cup of the semi-sweet chocolate chips.
Transfer the dough into the prepared baking pan, pressing it out evenly to reach the corners.
Sprinkle the remaining 1/2 cup of M&Ms and 1/4 cup of chocolate chips across the top of the dough, pressing them in slightly so they stick.
Bake for 22-25 minutes, or until the edges are golden brown and the center is set.
Let the bars cool completely to room temperature in the pan before using the parchment overhang to lift the block out. Cut into 16 squares and serve.