Place confectioners sugar in a large bowl. In another large bowl, combine cereal, raisins and pecans. In a medium saucepan, combine marshmallows and butter. Stirring constantly, cook over medium heat until smooth. Remove from heat; stir in extracts. Pour marshmallow mixture over cereal mixture; stir until well coated.
Using greased hands, shape mixture into 1-1/2 inch balls. Coat with sugar.
Yield about 6 1/2 dozen cookies.