The oat component of Lucky Charms are not as widely discussed in terms of what the shapes mean, in comparison to the marshmallow pieces. However, there are some speculation, such as, the shapes resembling: a cross (or ‘x’), a bell, a tree, a three leaf clover and an alpha (or fish). Many people suggest that these shapes are meant to be symbols of early Christians. However, other theories have suggested that the shapes are of talisman symbols from the Medieval Times, which were carried around for good luck. Other people speculate that these shapes are made randomly.

Lucky Charms - Wikipedia

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