Line a sheet pan with wax paper or parchment paper.
Place corn syrup and sugar in a saucepan over medium heat. Cook, stirring frequently, JUST until the mixture reaches a boil and the sugar is dissolved, about 4–5 minutes.
Take off the heat and stir in the peanut butter.
Place the corn flakes in a large bowl, and pour the peanut butter mixture over the top. Stir quickly to combine, then drop by spoonfuls onto the parchment or wax paper. Cool to room temperature—the candy will set as it cools.
To make wreaths:
Add 4–5 drops green food coloring to the hot sugar mixture, along wit the peanut butter. Proceed with the recipe as directed, but use two spoons or your fingers to form the clusters into wreath shapes. Decorate the wreaths with mini red M&Ms before they cool completely.
Notes
If you want to add sprinkles on top, add them as you drop the candy, before it sets. You can also drizzle the tops with melted chocolate.You can substitute Chex, Cheerios, Rice Krispies, or Special K in place of the corn flakes. You can make these into bars by pressing the mixture into a parchment-lined 13x9 inch pan. Let cool and cut into bars. These will keep in an airtight container at room temperature for one week. You can also freeze them in a resealable freezer bag for up to one month.