Take 2 caramels and flatten them together into a rectangle about 1/2-inch thick. This is easiest to do if they are a little warm, so if needed, microwave them for 5 seconds to soften them up. Continue with the rest of the caramels. Set aside.

In a bowl, combine the chocolate chips and the shortening. Cook in a double boiler or in the microwave on half power until melted. Make sure to stir often.

When the chocolate is melted and smooth, add the cereal and stir to combine.

Cover each of the caramels with the chocolate mixture. (I thought this was easiest using a fork. You want the bottom covered with chocolate, but not necessarily the cereal, so I would run each caramel across the lip of the bowl to get rid of any excess.)

Transfer to a sheet of waxed paper. Allow the candies to firm up for 1-2 hours before serving.