Combine caramels, water and cinnamon in a 3-quart oval slow cooker. Cover and cook on high setting 1 to 1 1/2 hours, stirring every 20 minutes.
Insert skewers into apples. Reduce heat to low setting; dip apples into hot caramel and turn to coat, scraping excess caramel from bottom of apples. Place on greased wax paper to cool.