Grease an 8x10 baking sheet.
Melt butter for 30 seconds in a large microwave-safe bowl or use a double boiler.
Stir in marshmallows and melt for 30 seconds. Repeat in 30 second intervals until marshmallows are melted.
Add Rice Krispies cereal; mix until well combined.
Press cereal mixture into prepared pan. Allow the treats to harden.
Use a pencil shaped cookie cutter to make 12 Rice krispies treats.
Heat the candy melts in small bowls according to package directions.
Cover the center of the pencil with yellow candy melts. Let the chocolate harden for 5-10 minutes. Repeat with the pink candy melts for the eraser.
Once the yellow and pink candy has set, fill the space between with white candy melts. Sprinkle the silver sanding sugar over the white chocolate. Once the chocolate has set, they are ready to eat.