Bring honey and butter to boil in saucepan, stirring constantly. Pour over cereal mixture. Mix until well coated. Line 13x9-inch baking pan with foil; lightly grease foil. With moistened hands, press firmly into prepared pan.
Bake at 350°F for 12 to 15 minutes or lightly browned. Cool on wire rack. Remove from pan; cut into bars. Store in tightly covered container. Makes 16 servings.