Beat the shortening, brown sugar, white sugar, peanut butter, egg, water and vanilla together for 2 minutes.
Add the flour, baking soda, crushed Cheerios and salt and mix until well blended.
Drop the dough in ½ inch balls onto a greased cookie sheet.
Press a criss-cross on top of each cookie with a fork dipped in sugar. If you run the fork under water first, the sugar sticks long enough to get it to the cookie.
Bake at 325°F for about 12 to 15 minutes, until the cookies are golden brown.