Crispy Caramel Treats

3 Tbsp. butter or margarine
2-1/2 cups Miniature Marshmallows
2 cups pretzels sticks, broken
12 Caramels
1 Tbsp. water
2 Tbsp. peanut butter

1. Melt butter in heavy saucepan on low heat. Add marshmallows; stir until melted and smooth. Remove from heat.

2. Add broken pretzel sticks; mix lightly until well coated. Drop by rounded tablespoonfuls onto greased baking sheet.

3. Melt caramels with water in heavy saucepan on low heat, stirring frequently until smooth. Add peanut butter; mix well. Drizzle over treats; cool.

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