1. Drain cherries thoroughly on paper towels for several hours. Line a baking sheet with waxed paper; set baking sheet aside.
2. In a small mixing bowl combine butter and corn syrup. Stir in powdered sugar; knead mixture until smooth (chill if mixture is too soft to handle). Shape about 1/2 teaspoon powdered sugar mixture around each cherry. Place coated cherries, stem sides up, on the prepared baking sheet; chill about 1 hour or until firm (do not chill too long or sugar mixture will begin to dissolve).
3. Melt candy coating. Line a baking sheet with waxed paper. Holding cherries by stems, dip one at a time into coating; if necessary, spoon coating over cherries to coat. (Be sure to completely seal cherries in coating to prevent juice from leaking.) Let excess coating drip off. Place cherries, stem sides up, on prepared baking sheet.
4. Chill until coating is firm. Store in a tightly covered container in the refrigerator. Let candies ripen in refrigerator for 1 to 2 weeks before serving. (Ripening allows powdered sugar mixture around cherries to soften and liquefy.) Makes 60 pieces.
Chocolate-Covered Liqueur Cherries: Prepare Chocolate-Chovered Cherries as directed above, except drain cherries, reserving 1-1/4 cups of the cherry liquid. Place the reserved liquid in a small saucepan and bring to boiling; remove from heat. Stir in 1/2 cup Amaretto, coffee liqueur, or creme de cacao; stir in the cherries. Cover the saucepan and let stand overnight. Drain the cherries thoroughly on paper towels for several hours. Continue as directed.
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