1 stick butter
1/3 c. baking cocoa
1/4 c. packed brown sugar
1/4 c. milk
3-1/2 c. powdered sugar
1 tsp. vanilla
30 caramels, unwrapped
1 tbsp. water
2 c. salted peanuts
1/2 c. semisweet chocolate chips

Heat butter, cocoa, brown sugar and milk in a saucepan; bring to a boil. Stir in powdered sugar and vanilla. Pour into greased 8 inch square pan.

In saucepan (or microwave) heat caramels and water until caramels are melted (about 2 minutes on high in microwave). Stir in peanuts; spread over chocolate layer. Melt chocolate chips; spread over caramel layer. Chill until firm.