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1 package (14 ounces) caramels
3 tablespoons water
1-1/2 cups chopped pecans
1 cup Rice Krispies
3 cups milk chocolate chips
1-1/2 teaspoons shortening
Line 2 baking sheets with waxed paper; grease the paper and set aside. In a large heavy saucepan, combine the caramels and water; cook and stir over low heat until smooth. Stir in pecans and cereal until coated. Drop by teaspoonfuls onto prepared pans. Refrigerate for 10 minutes or until firm.
Meanwhile, in a microwave, melt chocolate chips and shortening; stir until smooth. Dip candy into chocolate, coating all sides; allow excess to drip off. Place on prepared pans. Refrigerate until set. Store in an airtight container.