Line an 8x8 baking dish with parchment paper. Be sure to leave a bit of an overhang to help lift the fudge out of the baking dish. (If you do not have any parchment paper on hand, you can use heavy-duty aluminum foil. Lightly spray with nonstick cooking spray to keep the fudge from sticking to the foil.)

Add the white chocolate chips, sweetened condensed milk, and 2½ tablespoons of heavy cream to a medium-sized microwave-safe bowl. Heat in 30-second intervals, stirring well after each interval until the chips are melted and smooth.

Add the unwrapped caramels and 1½ tablespoons of heavy cream to a small microwave-safe bowl. Heat in 30-second intervals, stirring well between each interval until the caramels are melted and smooth.

Fold ¾ of the caramel mixture into the white chocolate mixture. Fold the mixture 3-4 times, being careful not to blend the caramel into the white chocolate; you only want a marble effect.

Evenly spread the white chocolate mixture into the prepared baking dish. Dollop the remaining caramel in several spots on top of the fudge. Use a knife to swirl the remaining caramel on top of the fudge. Cover the baking dish with plastic wrap. Chill in the refrigerator for at least 4 hours or until the fudge is set.

Use the parchment paper to lift the fudge out of the baking dish. Use a sharp knife to carefully slice the fudge 5 slices x 5 slices. Keep the fudge in the refrigerator until ready to serve.