Stir together marshmallow cream, peanut butter and cereal. Roll into balls and place on cookie sheet covered with wax paper. Refrigerate balls for about one hour.
Melt chocolate chips in a microwave, stirring every 30 seconds, until melted completely. Dip chilled balls in melted chocolate and place on cookie sheet again. After dipping balls, refrigerate until hardened.
Remove balls from cookie sheet and store in refrigerator.
These can be frozen!
Variation: Instead of chocolate chips, you can dip balls in butterscotch or vanilla coating.