1 jar (7 oz.) marshmallow creme
2 1/4 c. powdered sugar
1 pkg. (17 oz.) caramels
3 tbsp. water
1 lb. salted peanuts, chopped

Knead marshmallows creme and powdered sugar together until smooth and pliable. Shape into small fingers about 2 by 2 1/2 inches long. Place on waxed paper on a cookie sheet. Freeze.

Meanwhile, melt caramels with water in the microwave or in the top of a double boiler. Dip creme fingers into caramel mixture, turn gently with fork. Roll in chopped peanuts. Freeze until firm. Refrigerate.