Add caramel bits and water to large saucepan over medium-low heat.

Melt caramel bits, stirring until smooth.

Add Rice Krispies and toasted pecans; stir until combined.

Using a small ice cream scoop, drop candy onto parchment lined baking sheet.

Roll candy into balls; flatten slightly.

Heat chocolate melting wafers in double boiler until melted and smooth.

Dip candy in chocolate, allowing excess chocolate to drip off.

Place dipped candy on parchment paper. Allow chocolate to harden.

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