Line a baking sheet with foil. Microwave white-chocolate chips in a bowl on medium power for 2 minutes, stirring halfway. Tint melted chocolate with orange food coloring. Stir in cereal and mix well to combine.
With spoon, divide mixture into 16 equal parts. Form into carrot shapes directly on prepared baking sheet. (For brighter orange color, add a few drops of food coloring to 3 tablespoons water. Use a pastry brush to paint color onto shaped carrots). Insert gumdrop leaves for stem and let carrots set for 1 hour or until firm. Store in container with tight-fitting lid.