Cook corn syrup and sugar together in a large saucepan over medium heat, stirring to dissolve sugar. Bring mixture to a boil. Remove from heat. Stir in peanut butter; mix well. Add cereal; stir until evenly coated.
Let cool 3 to 5 minutes. Spray a large baking sheet with cooking spray. Spray hands with cooking spray. Divide into 12 equal portions. Shape cereal mixture into an oval shape about 4-inches long, tapering ends so that it is football-shaped.
Melt chocolate and butterscotch chips together in saucepan over low heat, stirring constantly. Spread over football top and partially down sides. Combine white chocolate chips and oil in a small plastic bag. Microwave on HIGH for 30 to 60 seconds until smooth. Snip off one corner of bag with scissors and carefully squeeze to make seam and laces for the footballs.
Cool at least 1 hour, or until chocolate is firm.
If desired, combine coconut, water and food coloring in a large plastic resealable bag. Gently toss until coconut is uniformly green. Sprinkle coconut on plate around football to make the “grass”.