In a large bowl, combine corn syrup and peanut butter; stir in cereal. With buttered hands, press the mixture into a greased 13-in. x 9-in. pan. Refrigerate for 15 minutes.
Cut cereal mixture into 12 rectangles; remove from the pan. Place 1/2 cup ice cream on six rectangles; top with remaining rectangles. Wrap each in plastic wrap and freeze until firm. May be frozen for up to 2 months. Cut in half before serving.