Lucky Charms® Cutouts

Line jelly roll pan, 15 1/2x10 1/2x1 inch, with waxed paper. Butter waxed paper.

Place all ingredients except cereal in large microwavable bowl. Microwave uncovered on High 1 minute; stir. Microwave uncovered about 30 seconds longer or until smooth.

Stir in cereal until evenly coated. Press in pan with buttered back of spoon. Refrigerate about 20 minutes or until slightly firm.

Cut cereal mixture into desired shapes with cookie cutters (ideas for shapes include star, moon, clover, horseshoe, balloon, heart and diamond). Roll remaining cereal mixture into about 1 1/2-inch balls. Store covered in refrigerator up to 3 days. Range-Top Directions: Heat all ingredients except cereal in 3-quart or larger saucepan over medium heat, stirring constantly, until melted; remove from heat. Continue as directed.