1 can sweetened condensed milk
1 (14 oz.) pkg. caramels
1 stick butter
1 pkg. lg. marshmallows
Crispy rice cereal or crushed nuts

Melt butter, sweetened condensed milk and caramels in microwave or double boiler. When melted, dip marshmallows that have been speared with toothpicks or skewers and then roll in crispy rice cereal or crushed nuts. Let dry on waxed paper.