Line a baking sheet with parchment paper.

Lay 35 of the pretzels on the prepared baking sheet.

Add the peanut butter and powdered sugar to a small mixing bowl. Stir to combine. Continue stirring until the powdered sugar and peanut butter are completely incorporated.

Spread about 1 teaspoon of the peanut butter mixture on each of the 35 pretzels. Place the cookie sheet in the freezer for 10 minutes to firm up the peanut butter mixture. While the peanut butter pretzels are in the freezer, make the caramel mixture.

Add the unwrapped caramels and heavy cream to a small microwave-safe bowl. Microwave for 45 seconds. Stir and continue to microwave in 30-second intervals until the caramels are melted and smooth. Set it aside to cool off. (This should only take a couple of minutes)

Remove the pretzels from the freezer. Spoon ½ teaspoon of the caramel mixture into the center of each peanut butter pretzel. Top the caramel layer with the remaining 35 pretzels. (You may need to work in 4 - 5 pretzel batches when you place the top pretzel over the caramel to ensure the pretzel sticks to the caramel) Return the cookie sheet to the freezer for 10 minutes to firm up. While the peanut butter caramel pretzels are in the freezer, make the chocolate candy covering.

Add the chocolate chips and vegetable oil to a medium-sized microwave-safe bowl. Microwave for 45 seconds, stir and continue to microwave in 30-second intervals until the chocolate is completely melted.

Line a baking sheet with waxed paper.

Remove the baking sheet from the freezer. Place a pretzel “sandwich” into the chocolate. Use a fork to flip the pretzel over and completely coat the pretzel. Tap the fork gently against the bowl to remove just a bit of the excess chocolate. Place the coated pretzels on the second prepared baking sheet. Repeat for the remaining pretzels. Once all the pretzels are coated, place the baking sheet in the refrigerator to allow the coated pretzels to firm up. (This may take 15-30 minutes, depending on how warm your kitchen is while making the pretzels.) You can drizzle a bit of the leftover melted chocolate mixture over the bites.