Place all ingredients except rice cereal and coconut in food processor and blend until smooth.
Add rice cereal and process just until mixed (or mix in cereal by hand). Use about 7/8 cup if your peanut butter is thick; use 1 cup if your peanut butter is thin; use 1 cup plus 1 tablespoon if your peanut butter is very thin. Don’t over process or cereal will be crumbly. Mixture should be very thick.
Using approximately 2 teaspoons of mixture at a time, form into balls. (I use my small cookie scoop for this for this.)
Roll in finely shredded coconut and place on wax paper. Freeze before serving.
Notes
1. Be sure to use old-fashion, natural peanut butter – the kind without added sugar or oils - like Teddie brand peanut butter. Some natural-sounding peanut butters - like Jif Natural, Skippy Natural, and Earth Balance peanut butter - have sweeteners and oils in them and will NOT work in this recipe.2. If your peanut butter is unsalted, add a scant 1/4 teaspoon of salt to the recipe.3. For best results, use very finely shredded coconut to roll Carob Balls in. If you don’t have finely shredded coconut, you can place regular, unsweetened shredded coconut in a blender and blend until it is fine.