Preheat oven to 350 degrees F ( 175 degrees C ). Generously grease one 13x9-inch baking pan.
Spread 2/3 of the flaked coconut evenly on the bottom of the baking pan. Sprinkle the butterscotch morsels, chocolate chips, and peanuts evenly over the coconut layer. Pour condensed milk evenly over the whole pan. Top with sliced almonds and remaining coconut.
Bake in preheated oven for 20 minutes. Cool completely before cutting into squares.