In medium microwavable bowl, microwave hazelnut spread and chocolate chips on High 30 seconds; stir until smooth. Place cereal in shallow dish.
Insert toothpick into marshmallow; dip in chocolate mixture. Roll in cereal to coat completely. Place on large plate; remove toothpick. Repeat with remaining marshmallows. If desired, insert round wooden sticks into each for pops.
Refrigerate 30 minutes or until chocolate is set.