Combine crispy rice cereal and Tasteeos cereal in a large bowl; set aside.

Combine miniature marshmallows and butter in a large microwave-safe measuring cup. Microwave on HIGH at 30-second intervals until melted, stirring each time. Stir in a few drops of orange food coloring. Pour mixture over cereals; stir to coat. Let stand 5 minutes.

For each basketball, shape ¼ cup cereal mixture into a ball; let set. Place melting wafers in a small microwave-safe bowl. Microwave on HIGH at 30-second intervals until melted, stirring each time. Pipe melted chocolate on each ball to create basketballs. Let set before serving.