(14 ounces) package caramels
1/4 cup milk
4 cups crisp rice cereal
1 cup salted peanuts
Unwrap caramels and place in a large saucepan. Add milk cook over low heat until caramels melt, stirring often. Remove from heat and stir in cereal and peanuts. Spoon into buttered 8-in. sq. pan. Cool completely in pan on a wire rack. Cut into sq..