1 c. peanut butter
1/2 c. powdered sugar
1/4 c. coconut
1/2 c. light corn syrup
2 c. Cheerios cereal
1 (6 oz.) pkg. milk chocolate chips
2 tbsp. water

Mix peanut butter, powdered sugar, coconut and corn syrup in medium bowl. Stir in cereal. Shape mixture into 1 1/2" balls, flatten slightly. Heat chocolate chips and water in saucepan over medium heat, stirring constantly until melted, cool. Dip tops of balls into chocolate. Place on waxed paper lined cookie sheet. Refrigerate until firm.