Lucky Charms is Getting Rid of Another Marshmallow The magically delicious cereal made the announcement on Instagram yesterday. “The hourglass has been a part of Lucky Charms since 2008, but as with any hourglass, its time is up.” This isn't the first time that Lucky Charms has gotten rid of a marshmallow, with only the pink heart remaining from the original cereal when it launched in 1964. Don't fret though, General Mills has promised a replacement marshmallow, though they have yet to reveal what shape it will take.