In a microwave safe bowl, microwave the margarine or butter for 30-60 seconds or until melted. Add the marshmallows, mix to combine, then microwave for 1 – 1 ½ minutes, stopping half way to stir. Heat until melted and smooth when stirred.
Dye the mixture pink with the pink food coloring. Add the rice krispies and chocolate chips and stir until well combined.
Spray your hands with cooking spray and shape into an oval. Wrap in plastic wrap and place in the fridge to chill.
Make the white rind
In a microwave safe bowl, microwave the margarine or butter for 30 seconds or until melted. Add the marshmallows, mix to combine, then microwave for 45 seconds - 1 minute, stopping half way to stir. Heat until melted and smooth when stirred. Add the white food coloring and stir to combine.
Add the rice krispies and stir until well combined.
Unwrap the pink center. Coat your hands in cooking spray. Set ¼ of the white rice krispies aside and wrap in plastic wrap. Flatten the remaining white rice krispies between 2 sheets of greased plastic wrap with a rolling pin.
Wrap around the pink center and press firmly to seal. Wrap in some more plastic and place in the fridge.
Make the green rind
In a microwave safe bowl, microwave the margarine or butter for 30 seconds or until melted. Add the marshmallows, mix to combine, then microwave for 45 seconds - 1 minute, stopping half way to stir. Heat until melted and smooth when stirred. Add the green food coloring and stir to combine.
Add the rice krispies and stir until well combined.
Unwrap the white oval. Coat your hands in cooking spray. Flatten the green rice krispies between 2 greased sheets of plastic wrap with a rolling pin.
Wrap around the white oval and press firmly to seal. Use the remaining white rice krispies to create markings on the outside of the watermelon. Spray the entire watermelon with cooking spray.
Allow the watermelon to cool and set in the fridge, about 2 hours.