Line a baking sheet with wax or parchment paper and set aside.
Open Rice Krispie Treats and insert a popsicle stick into the base of each. Place on a plate and chill in the refrigerator for 15 - 20 minutes.
Melt black candy melts in double broiler or in the microwave in 30 second increments, stirring occasionally until melted.
Use a spoon to coat a treat with melted chocolate, allowing the excess chocolate drip back into the bowl. Then immediately add candy eyes, a mini M&M nose (standing up sideways), a white candy melt "belly", and 2 M&M feet on the bottom (at a slight angle). Set on lined baking sheet to set. Repeat with all the penguins.