In a large saucepan over medium heat, melt margarine and marshmallows together, stirring constantly.
Combine marshmallow mixture with cereal mixture and stir well. Mix completely until all cereal is coated. Spoon mixture into paper cups and press lightly to fill. Insert ice cream sticks into the center of the mixture and press again lightly with fingers. Cool.
If you like, press half of the mixture into a 9x9 square baking pan and cool. Cut into squares.