Caramallow Dip

4 cups miniature marshmallows
25 caramels
1/2 cup sweetened condensed milk

Place marshmallows, caramels and sweetened condensed milk in large, microwave-safe bowl. Microwave on HIGH for 3 minutes, stirring every minute until caramels are melted and mixture is smooth. Cool mixture slightly.

Serve warm as a dip with fruit, pretzels or cookies.