Melt caramels and butter together in a double boiler.
Add marshmallows and heat till melted.
Stir until combined.
Measure cereal and nuts into a greased bowl.
Pour caramel mixture over and stir well with a fork.
Turn into an 8 X 12-inch shallow greased bake pan.
Press down well.
Chill for 1 hour, then cut in fingers.
Dip ends in melted semisweet chocolate if you like.