2 tbsp. water
1 (5.75 oz.) pkg. milk chocolate chips
1 c. peanut butter
1/2 c. powdered sugar
1/4 c. shredded coconut
1/2 c. light corn syrup
2 c. Honey Nut Cheerios

Heat water and chocolate chips over medium heat, stirring constantly until chocolate is melted. Cool. Mix peanut butter, powdered sugar, coconut and corn syrup in medium bowl; stir in cereal. Shape into 1 1/2 inch balls. Place on waxed paper covered cookie sheet; flatten balls slightly.

Spread with chocolate mixture. Refrigerate until firm, about 30 minutes. Refrigerate any remaining candies. Makes about 2 dozen.