2 c. sugar
2/3 c. milk (1 sm. can)
1 tbsp. butter
12 lg. marshmallows
6 oz. caramel chips (use all of them)
1 tsp. vanilla

Cook sugar, milk and butter 3 minutes. Stir in vanilla, marshmallows and caramel chips. Cook 2 more minutes. Spread while hot. I use Duncan Hines yellow cake mix for my cake.