Microwave caramels and water in large glass microwaveable measuring cup on HIGH 2 to 2-1/2 min. or until caramels are melted and sauce is smooth when stirred; cool slightly.
Insert wooden pop stick into stem end of each apple. Dip, 1 at a time, into caramel sauce, turning to evenly coat each apple. Let excess caramel drip off.
Melt white chocolate with semi-sweet chocolate as directed on package; mix well. Pour over marshmallows in microwaveable bowl; toss to evenly coat. Microwave on HIGH 15 to 20 sec. or just until marshmallows start to puff. Swirl gently with spoon to marbleize. Immediately spread onto apples. Carefully press graham pieces into marshmallow mixture. Refrigerate 1 hour or until caramel is firm.
Kraft Kitchen Tips!
Caramel apples, with their built-in portion control, make special treats that are fun to make with your kids.
Wash and dry the apples thoroughly so that the caramel sticks to the apples.
Remove apples from refrigerator 15 min. before serving; let stand at room temperature to soften slightly.