Step 1

In a medium saucepan place the caramels, sweetened condensed milk, and butter. Over medium heat stir constantly until smooth and creamy.

Step 2

Using a toothpick or skewer, dip each marshmallow into the caramel mixture. Tap off the excess.

Step 3

Pour the Rice Krispies in a big bowl and then gently roll the caramel covered marshmallow in the Rice Krispies.

Step 4

Place on a cookie sheet that has been lined with parchment paper and gently pull out the toothpick or skewer from the marshmallow.

Step 5

Let set up for about 30 minutes.