As embarrassing as it is, I got this RECIPE from my kindergarten teacher about 25 or so years ago. It was a recipe my CLASS made together, and I've now made it off and on all these years. It's SIMPLE, and obviously kid friendly, and is definitely not your normal Rice Krispies TREAT. I hope you like it!
Caramel-Coated Marshmallow Krispies
1 pound caramels, unwrapped (about 60)
1 can sweetened condensed milk
1/4 cup butter
1 bag large marshmallows
In a saucepan, melt together the caramels, sweetened condensed milk, and butter. Once all melted and smooth, dip a marshmallow into the caramel to coat and then roll to cover in Rice Krispies. Set on wax paper to cool for about 1 hour before tasting!
TIP: The full recipe makes quite a few, so I usually do half and make around 10 or so for my little family. And that leaves me some caramel to use as a dip for apples! Also, make sure to store in a plastic ziplock bag or container. Take note that after a few days the Rice Krispies might lose some of their "crispiness." :)