2 (9 inch) pie crust or cookie crumb crust
1 (8 oz.) pkg. cream cheese
1 (14 oz.) can Eagle Brand milk
1 (16 oz.) container frozen whipped topping
1 (12 to 16 oz.) jar of caramel ice cream topping
1/4 c. melted butter (oleo)
17 oz. pkg. coconut
1/2 c. chopped pecans

Soften cream cheese to room temperature. Mix in sweetened condensed milk. Fold in frozen topping. Place 1/4 of mixture into bottom of each pie crust. Pour on 1/4 of caramel topping. Sprinkle on 1/4 of nuts and coconut that have been mixed with very hot butter. Repeat layers, ending with coconut and nuts. Cover tightly with plastic wrap and freeze before serving. Makes 2 pies. Cut into 8 pieces.