I remember buying and eating the Nintendo Cereal System.
I remember liking the Ghostbusters cereal a lot more though. *coughs*
Batman cereal was my favorite licensed cereal (based off the '89 movie). It was basically Cap'N Crunch, in Bat-Symbol form, with marshmallows.
I had the Batman-shaped money bank, *nods*
I remember the Smurfs cereal being especially good.
... I remember parents being freaked out at what happened to their kids after they ate that. XD