2 c. toasted rice cereal squares
2 c. small pretzel twists
1 c. dry roasted peanuts
20 caramels, coarsely chopped
1 (12 oz.) pkg. Nestle Toll House Premier white morsels

In a large bowl, combine cereal, pretzels, peanuts and caramels. Microwave morsels in a medium microwave-safe bowl on Medium-high power for 1 minute. Stir. Microwave at additional 10 to 20 second intervals, stirring until smooth. Pour over cereal mixture. Stir to coat evenly. Spread mixture into a 13 x 9 x 2-inch baking pan coated with nonstick cooking spray. Let stand for 20 to 30 minutes or until firm. Break into bite size pieces.