Line a baking sheet with parchment paper. Set aside.
To a medium pot, add your caramels, heavy whipping cream, butter, and vanilla extract. Heat and stir over medium heat until melted and smooth.
Add in your peanuts and stir to combine.
Spoon Tablespoon-sized mounds onto the parchment paper.
Chill in the refrigerator until set, about 1 hour.
In a microwave-safe bowl, melt the almond bark in the microwave in 30-second intervals until melted and smooth.
Dip each caramel nut cluster into the melted white chocolate, allowing any excess to drop off. Place the coated candies back on the parchment paper to set. If using sprinkles, top each candy with sprinkles immediately after dipping.
Return the candies to the refrigerator to chill for 30-60 minutes until fully set.
Notes
You have to move quickly to get all of the candies dipped in the melted almond bark before it begins to harden and before the caramel peanut clusters start to get soft from sitting at room temperature. I find it helpful to remove the candies from the fridge in two or three batches so that they do not sit out too long and begin to soften up. Store your delicious candies at room temperature for 7-10 days. Place a piece of parchment paper between each layer to prevent the candies from sticking together.