Very carefully cut the pretzel rods in half and set aside.
Melt caramels and milk in saucepan over low heat.
In a large shallow bowl or a large plate combine the chips, toffee and pecans.
Dip the cut end of each pretzel about 2/3 of the way down into the caramel.
Allow excess caramel to drip off.
Roll each pretzel rod into the chocolate chip mixture.
Place on wax paper to set.
**If caramel becomes to thick warm it up in the microwave