Line 2 baking sheets with parchment. Combine the marshmallows and butter in a large bowl and microwave on 50-percent power in 30-second intervals, stirring in between each, until melted, about 1 minute 30 seconds.
Stir in the vanilla and enough food coloring to make the mixture a deep green, 10 to 15 drops. Stir in the cornflakes until they are completely coated.
Working with wet hands, form the mixture into twenty-four 2-inch balls. Flatten on the prepared baking sheets and poke a hole in the middle of each with your finger, molding the sides as needed to form a wreath shape. Decorate with the cinnamon candies to create holly berries. Form the red candy strips into a simple bow on each wreath. Sprinkle lightly with the white nonpareils for snow. Let set at room temperature to firm up, about 2 hours, or refrigerate 30 minutes.
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