A gooey caramel layer sits atop creamy chocolate fudge. It's so easy that you can make multiple batches for holiday gift-giving.
Place chocolate in large microwavable bowl. Add sweetened condensed milk; mix well. Microwave on HIGH 2 to 3 minutes or until chocolate is almost melted, stirring after every minute. Stir until chocolate is completely melted. Stir in vanilla and 3/4 cup of the pecans. Pour into foil-lined 9-inch square baking pan.
Microwave caramels and 1 teaspoon water in small microwavable bowl on HIGH 1 minute; stir until caramels are melted and smooth. Drizzle over top. Swirl with small knife for marble effect. Sprinkle with remaining 1/4 cup chopped pecans, pressing gently into fudge.
Refrigerate 2 hours or until fudge is set. Use foil to lift out of pan onto cutting board. Cut into 36 pieces. Store in tightly covered container at cool room temperature.
Test Kitchen Tip: A 9x5-inch loaf pan may be used in place of the 9-inch square pan. Fudge will be thicker in size.