It's a bowl of Cap'n Crunch cereal in the most literal sense possible. Amy of the sugar-packed and deep fried food blog Oh, Bite It! made this bowl out of Cap'n Crunch, marshmallows, and butter. It's pretty much Rice Krispie treats (except with Cap'n Crunch instead of Rice Krispies) molded into the shape of a bowl.
As a result, the entire meal, right down to the bowl, is edible. Amy fills hers with milk and Cap'n Crunch, but you could use it to eat pretty much any liquid at all. I suggest trying Taco Bell's Cap'n Crunch frosting balls mixed with chocolate milk.