Marshmallow Porcupines 1 can sweetened condensed milk 1/2 cup margarine 1 package caramels, unwrapped 1 package large marshmallows 2 cups Rice Krispies Combine milk, margarine and caramels in double boiler over simmering water until melted. Individually dip each marshmallow in mixture with a wooden pick, then roll in Rice Krispies. Cool on wax paper.