In a large pot, melt butter and caramels over medium heat, stirring until mixture is combined and melted.
Stir in marshmallows, chocolate chips and vanilla; remove pot from heat.
Add in rice krispies and stir to coat the cereal well (you need to work fast here so the mixture doesn't harden.
Drop by spoonfuls onto a baking sheet lined with parchment or plastic wrap, and let cool.
If you like, you can drizzle the drops with melted white chocolate and top with some sprinkles (you're other option is to make these into squares by pressing into a lined 9"x13" pan, allow mixture to cool, cut into squares and then top with melted chocolate and sprinkles.
These can be kept in an air-tight container for a week or can be frozen in a ziplock bag for a few months.