Line a baking sheet with parchment or wax paper and set aside.
Melt the butter and marshmallows
In a large saucepan over medium heat, melt the butter. Add the marshmallows and stir continuously until completely melted and smooth.
Add flavoring and color
Remove the pan from heat. Stir in the vanilla extract and green food coloring until evenly combined.
Incorporate the cereal
Gently fold in the cornflake cereal, ensuring all flakes are thoroughly coated with the marshmallow mixture.
Shape the wreaths
Drop spoonfuls of the mixture onto the prepared baking sheet. With lightly greased or damp fingers, form a small hole in the center of each mound to resemble a wreath.
Decorate with candies
Place three cinnamon red hot candies on each wreath to create a holly-berry effect.
Cool and serve
Allow the wreaths to cool at room temperature until firm. Once set, serve and enjoy.
Notes
To make this recipe gluten free, substitute the standard cornflake cereal with a certified gluten-free variety. Ensure the marshmallows and food coloring are also labeled gluten free to avoid cross-contamination.