Place the caramels and water in a microwave safe bowl. When the temperature reaches ~200 degrees on the fudge mixture, place the bowl of caramels in the microwave and heat on high for a total of 3 minutes. Stir after each minute interval. Once melted, stir in pecans. Set aside while you make the fudge.
In a large pot combine the butter, evaporated milk, and sugar. Cook over high heat, stirring continuously until the mixture reaches 234 degrees (use a candy thermometer to keep track of the temperature). Remove from heat.
Stir the chocolate chips into the sugar mixture until they are completely melted and completely mixed in.
Add vanilla; stir well.
Stir in marshmallow cream until it is completely mixed with the chocolate.
Pour half of the fudge into a greased pan or serving dish. Spoon the caramel pecan mixture over the fudge. Spoon remaining fudge over the top.
Place in the refrigerator for approximately 2 hours to cool.
Recipe by Premeditated Leftovers™ at https://premeditatedleftovers.com/?p=3197