Autumn flavors are at their best in this deliciously simple cocktail. Apple-flavored and butterscotch-flavored schnapps mingle together over a layer of fresh-cooked caramel.
In small microwavable bowl, microwave Caramel ingredients on High 40 to 60 seconds or just until it begins to boil. Dip each apple slice into caramel; sprinkle each with 1/2 tablespoon peanuts. Set aside. Cool remaining caramel slightly.
Spoon cooled caramel into each of 2 martini glasses. Place glasses in freezer while making martinis.
In martini shaker, place schnapps, liqueur and vodka; shake well. Strain into chilled martini glasses. Garnish with caramel-dipped apple slices.