Gather together all of your ingredients. Line a baking sheet with wax paper and set aside.
In a medium saucepan, melt butter over medium heat. Add miniature marshmallows and stir until completely melted. Remove from heat.
Add rice cereal and fold until all ingredients are well combined.
When cool enough to handle, roll the rice cereal mixture into small spheres, about 1 ½ - 2 inches in diameter. Place each one gently on the lined baking sheet. Allow to cool and set, about 30 minutes.
As the rice cereal treats set, roll out each of the fondants separately, with a rolling pin, until they’re about ¼ of an inch thick.Use a Wilton #12 piping tip to cut out 12 circles from each fondant color. You will want the larger end of the piping tip for the white fondant and the smaller end for the black fondant.
Press one black fondant circle onto the center of one white fondant circle.
Add candy melts and coconut oil to a microwave-safe bowl. Microwave in 30-second intervals, until completely melted (stir between each interval). Carefully add melted candy into a piping bag and cut a small slit at the end.
Pipe out a circle on each rice cereal treat, about ½ an inch in diameter. Top with one fondant eye. Allow to set.
Serve to your little ghouls for a fun and festive Halloween treat!