• Ingredients
  • 50 large marshmallows
  • 1 (14 ounce) package caramels
  • 1 (14 ounce) can sweetened condensed milk
  • 1 cup butter or margarine
  • 5 cups crisp rice cereal

Directions

  • Place a toothpick in each marshmallow. Place on waxed paper-lined baking sheets. Freeze until firm, about 1 hour. In a heavy saucepan over medium-low heat, combine caramels, milk and butter. Cook and stir until caramels are melted and mixture is smooth. Dip marshmallows in caramel mixture; roll in cereal. Freeze until firm, at least 1 hour. Remove from the freezer 45 minutes before serving, discard toothpicks.