Place butter in a 13 x 9-inch baking dish, letting it melt in the oven while it's preheating.
Remove dish and sprinkle graham cracker crumbs over melted butter. Drizzle sweetened condensed milk evenly over crumbs and sprinkle remaining ingredients on top, alternating (chocolate chips, coconut, nuts, cherries, repeat). Press down firmly with fork.
Bake 20-25 minutes or until lightly browned. Let cool completely before cutting into bars. For more firmness, refrigerate for 1 hour.