Line a 13x9x2-inch baking pan with foil, extending the foil over edges of pan. Spray foil with nonstick coating. Set pan aside.
In a large saucepan melt butter; add marshmallows. Cook and stir over low heat until marshmallows melt and mixture is smooth. Remove from heat; stir in cereal. With the back of a buttered spoon, press cereal mixture into prepared pan. Cool.
Use foil to lift cereal mixture out of pan. Using a 2-1/2-inch cookie cutter, cut into desired shapes. (Or, cut into serving-sized pieces using a knife.)
If desired, in a small saucepan heat and stir the candy coating over low heat until melted. Dip one-third of each cookie into the melted candy coating and place on waxed paper. Let cookies stand until the coating is firm. Makes 16 cookies.