Spicy Ranch was a flavor of Tribbles cereal which, according to a commercial for the breakfast food, could be purchased and/or synthesized.
The mascot was a tribble dressed as an Ancient West sheriff who wore a badge, a cowboy hat, a bandanna, and cowboy boots.
The other two varieties of Tribbles cereal were Original Flavor and Hairy Berry. (ST: "The Trouble with Edward", credit cookie)
The commercial was presented as a post-credits scene in "The Trouble with Edward". The context of the commercial from an in-universe perspective is impossible to determine, and may not have been meant to be taken literally.