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Gather ingredients.
Melt butter in large saucepan over low heat.
Remove from heat. Stir in the food coloring, vanilla, and cornflakes.
Place waxed paper on counter.
Drop heaping tablespoonfuls of the mixture onto the waxed paper.
Decorate with red hot candies immediately.
Allow to cool at room temperature before removing from paper. Store in airtight container.