I remember my Mom making these when I was younger and decided to try them. They are SO yummy!! I found the recipe here. It took awhile to get the caramels to melt, but it is worth the wait. I used an old fork the I have bent the middle prong up to make it easier to dip and release things :) There are yummy and really quite simple.
Krispie Caramel Marshmallows
1 package (10 ounces) Rice Krispie Cereal
1 can (14 ounces) sweetened condensed milk
1/2 cup butter, cubed
1 package (14 ounces) caramels
1 package (16 ounces) large marshmallows
Directions: Place cereal in a large bowl; set aside. In a double boiler or metal bowl over simmering water, combine the milk, butter and caramels, stirring until smooth. Remove from the heat. With a fork, quickly dip marshmallows into hot mixture; allow excess to drip off. Roll in cereal. Place on a foil-lined pan; chill for 30 minutes. Remove from the pan and refrigerate in an airtight container. Yield: 5-6 dozen.