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For the nougat layer:
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Melt the butter in a pot on medium heat. Add the sugar and whisk until the sugar has dissolved. Add the milk and whisk for 5 minutes. Begin to add the fluff and the peanut butter with a rubber spatula and fold until dissolved. Lastly, add the extract and turn down on low heat. Continue to stir so that the mixture won't stick to the pan.
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For the caramel layer:
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In a microwavable bowl, add the caramels and the whipping cream. Warm them up in the microwave for a minute at a time and stir until it is creamy.
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For the chocolate later:
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Melt the chocolate chips. I used the double boiler method where I placed the chip on the boiler and melted them until the chocolate was creamy. You can use whatever method you like to melt the chocolate.
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For the peanut and toffee layer:
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In a food processor or chopper, chop peanuts but do not chop them into a powder. You just don't want them to be bulky. Place peanuts and toffee in a bowl for dipping.
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For the assembly:
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Dip the pretzels in the nougat. It may seem as though the nougat is not sticking to the pretzel but keep dipping and it will and then place them on a cooling rack and allow to cool for 10 minutes.
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Once they are cooled, dip them in the caramel and place back on the cooling rack and allow to cool for another 10 minutes. Note: You can take a butter knife and clean up the excess dripping off the pretzels for a cleaner look.
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Finally, dip in the chocolate and roll the pretzel into the peanut and toffee and place back onto the cooling rack. Allow to cool completely for 25-30 minutes before eating.
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Enjoy!