Caramel Drops

1 pkg. (14 oz.) vanilla caramels (about 48)
2 tbsp. water
Dash of salt
3 c. toasted oat cereal

Place caramels, water and salt in 3 quart microwaveable casserole. Microwave uncovered on high 3-4 minutes, stirring every minute, until caramels can be stirred smooth. Stir in cereal until well coated. Drop by rounded teaspoonfuls onto waxed paper. Refrigerate about 30 minutes or until firm. About 3 dozen candies.