Heat oven to 350°F. Cut cookie dough into 16 equal pieces. Work with 1 piece of dough at a time; refrigerate remaining dough pieces until needed.
For each cookie, cut 1 piece of dough into 3 equal slices. Place 2 slices side by side on ungreased cookie sheet; press into 3x3 1/2-inch rectangle (see photo). Place third slice on center of long side of rectangle; press slice into triangle for roof (house should be about 5 inches tall). Repeat with remaining dough making total of 16 house shapes, 1 1/2 inches apart on cookie sheets.
Bake 8 to 11 minutes or until light golden brown. Cool 2 minutes; remove from cookie sheets. Cool completely, about 15 minutes.
Decorate with icing; use cereal for shingles and candy for house features. Let stand until frosting is set, about 30 minutes. Store between sheets of waxed paper in tightly covered container.