1 can sweetened condensed milk
1 cube (1/4 pound) butter
1 package Kraft (or Brach's Milk Maid) caramels, unwrapped (approximately 48 caramels)
1 package large marsmallows, cut in half
1 box Rice Krispies, emptied into a bowl
Combine sweetened condensed milk, butter and caramels in the top of a double boiler and melt until smooth. Reduce the heat to low and keep the double boiler on the heat throughout the process.
Dip each half marshmallow in caramel until completely coated, rotating to drip off excess. Drop the caramel-coated marshmallows into the bowl of Rice Krispies and cover completely, making sure not to touch hot caramel with your hands. Remove from bowl and place on a cookie sheet. Enjoy the warm, melty goodness.
As a note, it is easiest to dip using two fondue forks, one to spear/dip and the other to faciltate removal. Also, the Rice Krispie bowl works better if it is wide rather than deep.
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