Melt butter & chocolate chips in microwave or over hot water in a double boiler. Let cool until marshmallows do not melt when added. Stir in nuts and mix together until marshmallows & nuts are covered with chocolate.
Lay out waxed paper on counter, sprinkle with coconut. Take half of the mixture and roll like a jelly roll onto coconut. Roll should be approx. 3 inches in diameter and 10 inches long. Repeat with the other half of the mixture.
Wrap in saran wrap and foil. Chill and slice.
You can also freeze for several weeks. Great for cookie trays, very pretty cookies when sliced.