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Combine sugar, milk, butter and salt in a medium sauce pan.
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Bring to a boil over medium heat, stirring constantlywith a wooden spoon.
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Boil/stir for 5 minutes.
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Remove from heat, stir in marshmallows until melted and mixed well.
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Stir in chocolate chips and vanilla.
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Stir until smooth, and for 6 minutes.
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Grease a 13x9 inch baking pan.
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Pour chocolate fudge into pan and prepare peanut butter fudge immediately.
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Peanut butter fudge: Follow above directions except reduce sugar to 3/4 cup and add 3/4 cup brown sugar, omit butter and chocolate, and add peanut butter where you would add the chocolate chips and vanilla, and Immediately spread evenly over the chocolate fudge.
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White fudge: Follow above directions and sub the white chocolate chips for the semi-sweet chocolate chips, and immediately spread evenly over the peanut butter fudge.
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Cover fudge with plastic wrap and refrigerate 2 hours or until firm.
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Cut into 1 inch squares.
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Keeps in fridge 3 weeks.