Preheat oven to 300°. Toss pecans with melted butter; spread in a 15- x 10-inch jelly-roll pan. Bake 30 minutes, stirring every 10 minutes. Microwave candy coating squares in a 1-qt. microwave-safe glass bowl at MEDIUM (50% power) 2 to 3 minutes or until melted. Stir in pecans and chopped chocolate-coated caramels. Drop by tablespoonfuls onto wax paper; let stand 30 minutes or until chocolate hardens.
Note: We tested with Rolo Chewy Caramels in Milk Chocolate.