Total Calories: 1,055
In a large bowl, mix powdered sugar, marshmallow creme, peanut butter, cream or half-and-half, and vanilla with a rubber scraper until partially blended. Transfer to a board and knead until smooth. Divide into eight equal portions and form each into a 4-inch roll. Wrap each roll in plastic wrap and freeze for 4 hours or until firm.
In a 1-quart saucepan over low heat, melt caramels in water, stirring until well blended.
Place nuts in a pie plate. Unwrap the frozen rolls. Using two forks, quickly dip one roll at a time into the caramel mixture roll in nuts. Place on waxed paper. Chill for 1 hour. Wrap in plastic wrap and store in a cool dry place.