Place a sheet of waxed paper on a cookie sheet so cookies won't stick.

Combine powdered sugar, honey and peanut butter in a medium bowl.

Stir until mixed well. Stir in cereal and raisins.

Using hands, shape mixture into 1-inch balls.

Roll balls in sprinkles and place on a cookie sheet.

Refrigerate for 1 hour. Cookies should feel firm when touched.

Serve right away or place in tightly covered container and store in refrigerator.