Gather all the ingredients.

Melt butter in a large saucepan over low heat. Add marshmallows, and cook stirring constantly, until melted.

Remove from the heat, stir in food coloring and vanilla, then stir in cornflakes.

Set out one or two sheets of waxed paper. Fill a skillet with 1 inch of very hot water. Place the saucepan into the skillet so cookie dough stays warm.

Quickly drop a heaping tablespoonful of cookie dough onto the waxed paper, and use lightly greased fingers to form it into a wreath shape. Immediately decorate cookie with red hot candies. Repeat for remaining cookies.