I was looking for a new candy to make for Christmas and found this on my friend's recipe blog: www.bethsfavoriterecipes.blogspot.com. These were a big hit. They taste just like a candy bar. Soooo good!
1 package (14 ounces) caramels
3 tablespoons water
1 1/2 cups chopped pecans
1 cup crisp rice cereal (I used 1 1/2 cups)
3 cups milk chocolate chips
1 1/2 tsp shortening
Line two baking sheets with waxed paper; grease the paper and set aside. In a large heavy saucepan, combine the caramels and water; cook and stir over low heat until smooth. Stir in pecans and cereal until coated. Drop by teaspoonfuls onto prepared pans. Refrigerate for 10 minutes or until firm.
Meanwhile, in a microwave, melt chocolate chips and shortening; stir until smooth. Dip candy into chocolate, coating all sides; allow excess to drip off. Place on prepared pans. Refrigerate until set.
Store in an airtight container.
Makes about 2 pounds (32 pieces)
Source: Taste of Home's Holiday & Celebrations Cookbook Annual 2003