In advance: Prepare Candy Clay for fence and let set overnight.
Roll out dough and cut 9 cookies with bell cutter; cut clapper off bottom, bake and cool. Melt 1 pk. each white and cocoa candy. Using candy colors, tint 1/4 cup white candy red, 1/3 cup yellow and 1/3 cup black (combine red and blue candy colors). Add a small amount of white candy to light cocoa to lighten shade.
Place cookies on cooling grid over waxed paper, cover with cocoa candy; refrigerate to set. If needed, trim excess candy from sides. Cover pattern with waxed paper and position cookie on face area. For antlers, add a little more white candy to make cocoa candy one shade lighter. Pipe antlers using melted candy in cut parchment bag; follow pattern and be sure to connect antlers to cookie. Pipe ears using the darker cocoa shade used to cover cookie; refrigerate until firm. Pipe inner ears with white candy and hair with yellow candy. Pipe white eyes, black facial features and Rudolph's red nose. Attach lollipop sticks to cookies with melted candy. Tie a 14 in. piece of ribbon into a bow on each stick.
Prepare 3 batches of cereal treats. Spray pan with vegetable pan spray. Pack cereal treat mixture into pan. Unmold onto foil-covered board. Make fence. Cut a spice drop in half and attach to each ball on fence posts with melted candy. Insert cookies in loaf. Crush shredded wheat and sprinkle around base of fence; position assorted candies.