Half a 14 oz. pkg. caramels
1 tbsp. water
1/2 c. chopped peanuts
4 c. crisp rice - puff cereal

Place unwrapped candies and water in 1 1/2 quart casserole dish. Microwave on High for a minute or so. Stir and microwave 30 seconds longer. Stir smooth. Stir in peanuts. Pour over cereal in a large bowl and stir. Press into a buttered 9 inch pan. Cool, cut into squares. Makes 20 (1 inch) squares.