Line an 8x8 square baking pan with foil. Spray foil with nonstick spray

Place cereal in a large bowl

In a saucepan, melt the butter over medium-low heat. 

When the butter melts add the marshmallows and stir until completely melted. Add vanilla extract 

Pour the marshmallow mixture into the cereal

Mix with a wooden spoon until the cereal is completely coated with the marshmallow

Press this mixture into the prepared square pan. Let the treats set completely. About 30-45 minutes

Remove the cereal from the pan and place on a large sheet of parchment paper. Cut into thin rectangles (about 1"x3") leaving enough cereal for triangle tips 

Place rectangles on a cookie rack with parchment paper on the bottom (to catch any spills) and coat with the yellow frosting, leaving a small space uncoated for the eraser

Shake the cookie rack so the excess cookie icing spills. Let the icing set. About 30 minutes. 

Add the red cookie icing to the ends of the rectangle (to make the eraser). Shake the cookie rack so the excess cookie icing spills. Let the icing set. About 30 minutes.

When the icing sets, carefully place pencils on a clean sheet of parchment paper and paint a line between the red and yellow colors using the silver food coloring and a small paintbrush

Let the silver dry 

With the leftover cereal treats cut out small triangles and attach them to the yellow ends of the pencils using cookie icing as the glue 

Using a small paintbrush, carefully, paint the tips of the triangle with the black icing. Let them dry for 10-15 min 

Enjoy!