- Heat caramels and water in another microwave-safe bowl on high 2 minutes or until melted stirring after 1 minute; stir in peanuts. Spread over chocolate mixture; set aside.
- Microwave chocolate chips in a microwave-safe bowl on high 1 minute stirring until melted. Pour evenly over caramel layer. Refrigerate until firm. Cut into squares.
- photo: food com