1/2 Powdered Sugar
48 Salted Peanuts
Melt half the butter.
Add marshmallows, stirring until melted.
Mix with powdered sugar to make a smooth, workable dough.
Add 1/2 cup peanuts.
Shape into 2 rolls.
Place 1/2 of remaining peanuts on a sheet of plastic wrap, a little longer than a roll.
Melt 1/2 the caramels with 1 T. of water and 1 T. of butter.
Pour over the peanuts.
Place one roll on the caramel and bring up the sides of the plastic wrap to cover the roll with the caramel and peanuts.
Press the nuts firmly into the caramel.,
Repeat the process to cover the other roll.
Refrigerate, and slice when ready to serve.