1/2 c. light corn syrup
1/4 c. sugar
1 (3 oz.) pkg. Jello, any flavor
3/4 c. salted peanuts
4 c. Alpha Bits cereal

Combine syrup, sugar and Jello in saucepan. Stir over low heat for 5 minutes or until sugar and Jello are completely dissolved. Combine peanuts and cereal in large mixing bowl. Add Jello mixture; mix well. Moisten hands in cold water. Form cereal mixture into 2 inch balls. Wrap each in plastic wrap.