Combine butter and corn syrup, in a medium bowl, until smooth. Stir in powdered sugar and mix to form a dough. Chill for 30 minutes.
Wrap each cherry in 1 teaspoon of dough and chill again in the freezer for 20-30 minutes.
While cherries are chilling, melt candy coating according to package directions. Dip each cherry in the chocolate and place on a parchment paper lined cookie sheet.
Chill cherries until set