1/2 c. butter
1 (14 oz.) pkg. caramels, unwrapped
1/4 c. chopped pecans
1 tbsp. milk
1/4 tsp. rum extract

In heavy 2-quart saucepan, melt butter and caramels over low heat for 12-15 minutes. Stir in pecans, milk and extract. Keep warm. Makes 1 1/2 cups. To reheat, add 1 to 2 tablespoons milk and heat slowly.