Adult supervision required.
Cover cookie sheet with aluminum foil or waxed paper. Place cereal in plastic bag. Tie bag and crush with rolling pin. Put crushed cereal on waxed paper and set aside. Peel bananas and cut in half widthwise. Insert a popscicle stick into cut end. Set aside on cookie sheet.
Place water in the bottom of a double boiler. Place the pot over medium heat on stove. When water begins to simmer, lower heat but keep water simmering. Place chocolate chips in top of double boiler. Melt chips, stirring occasionally. (chips can also be melted in a microwave, on high for 30 seconds, then another 15 seconds).
Once chips have melted, dip banana into chocolate using a wooden spoon to help cover banana completely. Roll the banana in the crushed cereal and put on cookie sheet. Repeat with remaining bananas.
Freeze for 3 hours or overnight.