How to Make It
Preheat the oven to 350°. Position 2 racks in the middle and lower thirds of the oven. In a bowl, beat the butter and cheddar at medium speed until combined. Add the flour, cayenne and salt and beat until a crumbly dough forms. Add the rice cereal and beat briefly to combine.
Form level tablespoons of the dough into balls; place on 4 large baking sheets. Using a fork, press a crosshatch pattern into the balls, pressing them into 2-inch rounds.
Bake the crisps 2 sheets at a time for about 25 minutes, until they are lightly browned; shift the pans from top to bottom and front to back halfway through baking for even cooking. Let cool completely.