Step 1

Place the butter, caramels, and sweetened condensed milk in a saucepan over medium-low heat.

Step 2

Heat and stir frequently until the caramel and butter melt. Stir continuously until the caramel dip is creamy and smooth.

Step 3

Remove the saucepan from the heat and stir in the vanilla extract.

Step 4

Allow the dip to cool before enjoying it with apple slices or drizzled on top of desserts!

Step 5

Store leftovers in an airtight container in the refrigerator for up to 3 weeks.