In a large mixing bowl, combine the Cheerios and set aside.

In a small saucepan over low heat, combine the peanut butter and honey. Stir continuously until the mixture is smooth and well combined, about 2-3 minutes.

Pour the peanut butter mixture over the Cheerios and stir until all the cereal is evenly coated.

Line an 8x8-inch baking dish with parchment paper. Pour the mixture into the dish and press it down firmly with a spatula or your hands to create an even layer.

Refrigerate the bars for at least 1 hour to set.

Once set, remove from the refrigerator and cut into squares or bars.