Add chicken pieces to the bowl of your instant pot. Pour 2 cups of broth or water in.
Add the butter, au jus & ranch, and 5-8 pepperoncini peppers. Using only 5 peppers makes this dish less spicy. I also like to add up to 1/2 cup of the juice from the jar-but this is optional.
Lock the lid of the instant pot, and place the valve to sealing position. Turn on manual for 45 minutes.
Once the timer is done, I let manual release for 10 minutes and then turn the vent to open to finish releasing.
Carefully remove the chicken pieces from the juice and let rest in a bowl or plate for 10 minutes or so or until the chicken is cool enough to handle.
Debone and shred the chicken. You can remove some of the broth (save for soups, stews) and add the chicken back to the pot. Be sure to leave enough to mix the chicken in-this broth is delicious! Or you can serve the chicken as is with your favorite sides.