Lucky Charms is a breakfast cereal by the American company General Mills. It consist of whole oat pieces and colored marshmallow pieces that are shaped as pink hearts, yellow moons, orange stars, and green clovers (although variations have been added throughout the years). It is also known for its mascot, Lucky the Leprechaun and its slogan "They're magically delicious".
It has been featured on MWC in various episodes.
In the season 7 episode, Frat Chance, Peg holds up a box Lucky Charms, much to Kelly and Al's excitement, and then proceeds to give them an individual marshmallow for their breakfast.