1Cover cookie sheet with waxed paper. In 3-quart saucepan, heat marshmallows and butter over low heat, stirring constantly, until marshmallows are melted and mixture is smooth. Stir in peanut butter until blended. Remove from heat.
2Stir in cereal, raisins and nuts until evenly coated. Let stand 2 minutes. Shape into 2-inch balls. Insert wooden stick into middle of each ball. Place on waxed paper. Let stand about 30 minutes or until firm. Store balls wrapped in plastic wrap.