14-oz package caramels
3 tbsp. water
1 1/2 c. chopped pecans
1 c. rice cereal
3 c. milk chocolate chips
1 1/2 tsp. shortening

Line two baking sheets with wax paper; grease and set aside.
In a large saucepan, combine caramels and water.
Stir over low heat until smooth.
Stir in pecans and cereal until coated.
Drop by the teaspoon onto pan.
Refrigerate for 30 minutes, or until firm.
Meanwhile, melt chocolate chips and shortening; stir until smooth.
Dip candy into chocolate chip coating.
Refrigerate until set.