In the vein of the Trix Rabbit's fall from grace, here we see the very first cracks in the thin armor of Lucky Leprechaun.
"A malt cereal with a delightful difference." And a wee bit o' sugar, eh, laddie?
Animation was reportedly performed by Bill Melendez, later of Peanuts (you know, Charlie Brown? Snoopy?) fame on television. I would suspect he also did the Trix ad seen previously, given the similarities and the sponsoring company (General Mills).