Coat a microwave-safe bowl with cooking spray. Heat butter and marshmallows on HIGH for 3 minutes, stirring after 2 minutes. Stir until smooth. Add a few drops of orange food coloring and stir.
Mix in the cereal, making sure to stir until well coated. Use a buttered spatula to evenly press mixture into a greased 13x9 pan. Cool.
Once the treats have set, cut into triangles and use your hand to gently round the corners for a more realistic look.
Melt the candy coating according to package directions and dip the base of your treat into the chocolate. Shake off excess. Then dip the tip into the white chocolate coating. Place the treat on a silicone baking sheet or wax paper and allow to set. Store the treats at room temp in an airtight container up to three days.