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Export 4 ingredients for grocery delivery
Step 1
Set up a double boiler over medium-low heat and melt the caramels, sweetened condensed milk, and butter until a smooth caramel mixture forms - this is my preferred method. You could also use a medium heat-proof bowl and melt the ingredients in the microwave on a low setting, stirring regularly. Just be careful to not let the mixture scorch.
Step 2
Line a large rimmed baking pan with a layer of wax paper. Place a couple cups of rice cereal into a medium-size, low, wide bowl. Set aside.
Step 3
Drop a marshmallow into the caramel. Using a fork in each hand to maneuver the marshmallow, quickly turn the marshmallow to completely cover it with caramel. Lift the marshmallow out with one of the forks, and tap the fork handle lightly on the side of the bowl to force excess caramel down through the fork’s tines and back into the bowl. Slide the fork outward from the bowl, dragging the bottom of the tines along the rim of the bowl, letting any other excess caramel drip down the inside of the bowl. Transfer caramel-dipped marshmallow to the bowl of rice cereal. Dedicate a third fork for rolling the caramel-dipped marshmallow around in the cereal. Once marshmallow is coated with a layer of cereal, transfer it to the prepared baking pan. Repeat with remaining marshmallows. Add more rice cereal to the bowl as needed. I like to drop three to four marshmallows in the caramel at a time, and then work quickly to cover each one with caramel and then rice cereal. This makes the process go much faster!
Step 4
Once caramel is set, store in an air-tight container with wax paper separating any layers. I like to store these in the refrigerator if I'm anticipating them being completely devoured within a day or two. For longer storage, place container in freezer. The puffs are also fun to eat frozen or just slightly thawed - it's how I liked to eat them when I was a kid!
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