8 oz. caramels (Kraft)
2 tbsp. water
1/2 cup salted peanuts
7 cups corn flakes

Heat caramels and water in double boiler, stirring frequently, until caramels are melted and sauce is smooth.

Add peanuts and mix well. Pour over corn flakes; toss until well coated.

Spread on a lightly greased cookie sheet. Let stand until firm.

To serve, break into pieces.