Begin by greasing a large cookie sheet or cake pan, then set this aside for later.
Next add the marshmallows, peanut butter, and honey to a medium sized saucepan.
Heat this mixture over medium to low heat, stirring it constantly. Once the marshmallows completely melted, remove it from the heat.
Place the Cheerios in a large bowl and pour the melted marshmallow mixture over it. Stir together well to completely coat the Cheerios in the honey-marshmallow mixture.
Grease a 1 cup measuring cup and portion out the mixture. Lastly roll each cup into a ball and place on the greased cookie sheet.
Place in fridge and let set for at least 1 hour before serving.1