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Preheat oven to 325°F. Arrange pretzels on large shallow parchment-lined baking pan. Press each caramel into a disc about the size of a pretzel. Place one caramel on each pretzel.
Bake 3 to 5 minutes or just until caramels start to melt. Remove from oven. Sprinkle sea salt evenly over each caramel covered pretzel. Allow to cool.
Cut 24 marshmallows in half crosswise. Pinch cut end of each marshmallow into a point (These will form the feet). Press remaining whole marshmallows to flatten slightly. Set aside until ready to assemble.
Melt coating wafers as directed on package. Dip cooled caramel covered pretzels in melted coating, allowing excess coating to drip off. Return to parchment-lined pan. While coating is still wet, place whole marshmallow in center of pretzel to make the bunny tail. To make bunny feet, place two marshmallow halves on pretzel with pointed ends closest to tail.
Mix vanilla and red food color in small bowl. Using small clean paint brushes, paint bunny feet with food color mixture to make 3 toes and the padding on each foot. Allow to dry.
Place coconut in resealable plastic bag. Add green food color to coconut in bag; shake until coconut is evenly tinted. Spread tinted coconut on serving platter, place ‘bunny butts’ on ‘grass’ to serve.
Test Kitchen Tip: To paint or pipe on lighter pink bunny feet as shown in photo, stir 1 tablespoon coconut oil, 1/4 teaspoon McCormick® Pure Vanilla Extract and 2 drops McCormick® Red Food Color into remaining (about 1/4 cup) candy coating in bowl. Microwave if needed, 10 seconds at a time, until desired consistency is reached. Spoon tinted coating into pastry bag or resealable plastic bag. Snip a very small corner from bag. Pipe out toes and pads of bunny feet and allow to dry, or paint on as directed above.