Line two baking sheets with parchment paper or nonstick silicone mats.
In a microwave-safe bowl, combine the caramels and cream. Heat on high for 30-second intervals, stirring between each interval until smooth.
Add the pecans and cereal to the melted caramels. Stir to mix. Using a 1 1/2-inch cookie scoop (or two teaspoons), dip and drop the caramel mixture onto the prepared baking sheet.
Refrigerate the caramels until they harden, about 10 minutes.
In a clean microwave-safe bowl, melt the chocolate chips and shortening in 30-second intervals, stirring between each interval.
Using a fork, dip the hardened candy into the chocolate. Be sure to coat all sides. Shake off the excess chocolate and return the candy to the prepared baking sheets. Refrigerate until set. Store at room temperature or in the refrigerator in an airtight container.
Notes
Yield
This recipe will make approximately (25) 1 1/2-inch candy balls or (40-50) 3/4-inch balls.
Stovetop
You can also make this candy on the stovetop. On low heat, melt the caramels and cream in a heavy saucepan, stirring constantly until smooth. Melt the chocolate and shortening on low heat, stirring constantly. You can also use a double boiler to melt both the caramels and the chocolate.The cook time listed is for melting the caramels and chocolate in the microwave. The cooking time may vary if prepared on the stovetop.
Storage
This candy features a soft caramel center that won't harden if stored in the refrigerator. Use an airtight container for either refrigerator or countertop storage.