Melt the butter in a large saucepan over medium heat. Add the mini marshmallows and stir until fully melted and smooth.

Remove the pan from heat and stir in the red food coloring until the mixture turns a consistent pink shade.

Pour the Rice Krispies cereal into the marshmallow mixture and stir quickly until the cereal is evenly coated.

Scoop heaping spoonfuls onto a parchment-lined baking sheet and gently press each one into a loose cluster shape with your hands or a spoon.

Place the white chocolate chips in a small microwave-safe bowl and heat in 15-second bursts until melted. Drizzle the melted chocolate over the clusters.

Let the clusters set at room temperature for about 20 minutes before serving.