1 can (14 ounces) sweetened condensed milk
1 cup white chocolate chips
1 cup caramel bits or caramel candies, unwrapped
1/4 cup unsalted butter
1 teaspoon vanilla extract
Optional toppings: sea salt, chopped nuts, or additional caramel sauce
Line an 8×8-inch baking dish with parchment paper or aluminum foil, leaving some overhang for easy removal later. Set aside.
In a microwave-safe bowl, combine the sweetened condensed milk, white chocolate chips, caramel bits (or caramel candies), and butter.
Microwave the mixture in 30-second intervals, stirring well after each interval, until the ingredients are melted and smooth. Be careful not to overheat the mixture.