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Line a baking sheet with parchment paper or wax paper and set aside.
In a medium saucepan over medium-low heat, add the butter and caramel squares. Heat until melted and smooth, stirring frequently.
Stir in the mini marshmallows, chocolate chips, and vanilla, continuing to stir frequently until fully melted and incorporated.
Remove the pan from the heat and stir in the crispy rice cereal until evenly coated.
Use a medium cookie scoop (1.5 TB) to portion out the cookies to the prepared cookie sheet.
Chill for approximately 30 minutes and then enjoy!