Directions

1. Cook corn syrup and sugar together in a large saucepan over medium heat, stirring to dissolve sugar. Bring mixture to a boil. Remove from heat. Stir in peanut butter and food coloring; mix well. Add cereal; stir until evenly coated.
2. Let mixture cool slightly. Coat hands with butter or cooking spray. Form mixture into 1 to 2-inch balls, then press to flateen, forming a disk. Cut a circle out of the center using a paring knife or shot glass to create a wreath shape. Place on waxed paper.

To make licorice bow:

1. tie each each 6-inch strand of licorice into a bow. Trim the the ends as necessary. Add licorice to wreath. Cool for 15 minutes.