Green icing color tints the marshmallow mixture that combines with the coconut and rice cereal for these festive holiday snacks.
Line 2 or 3 baking sheets with parchment or wax paper. In large saucepan, over medium heat, melt marshmallows and butter until smooth; remove pan from heat. Tint marshmallow mixture green with icing color. Add cereal and coconut, stirring gently until combined.
Coat your hands with vegetable cooking spray. Shape mixture into 20 balls, and place on prepared baking sheets.
Using greased handle from wooden spoon, press into center of each ball, making a wreath shape. Top wreaths with red sprinkles. Cut licorice into 40 pieces; shape into bows, pressing together to secure. Press bows onto edges of wreaths.