Line a rimmed baking sheet with wax paper and coat with cooking spray. Insert a wooden craft stick into the stem end of each apple.
In a medium saucepan over low heat, combine caramels and water, stirring constantly until melted. Remove from heat and spoon over apples, coating completely. Place coated apples on baking sheet and chill 30 minutes.
In a medium saucepan over low heat, melt chocolate chips and vegetable shortening, stirring constantly. Spoon chocolate evenly over caramel-coated apples. While the chocolate is still melted, decorate apples with sprinkles and candy.
Chill 30 minutes or until set. Enjoy.
Fancy It Up
Make these caramel apples your own by covering with your favorite type of chocolate – white, milk, or semisweet, or even use more than one type. And as for the toppings, feel free to get creative. Maybe sprinkle them with your favorite nuts, seasonal sprinkles, coconut, or crushed candy.