Coat a wooden spoon and 1/3-cup dry measuring cup with cooking spray. Line a baking sheet with parchment, and coat lightly with cooking spray.
Melt the butter in a medium saucepan over medium heat. Add the marshmallows, honey, vanilla and a pinch of salt, and stir with the prepared wooden spoon until the marshmallows have completely melted, 4 to 5 minutes. Remove from the heat, add the cereal and stir until the mixture is fully combined.
Use the prepared measuring cup to scoop out the mixture onto the prepared baking sheet in mounds. Let them cool for a few seconds to make them easier to work with. Spray your hands with cooking spray, and firmly press and pat each mound into a football shape. Let the treats sit at room temperature to harden slightly, about 20 minutes.
Cut the candy chews lengthwise into quarters. Roll the pieces into thin ropes and cut into short and long lengths to make laces. Arrange the candy on top of each football, pressing in to help them adhere. Store at room temperature in an airtight container for up to 3 days.
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