Line a baking sheet with parchment paper.
In a large saucepan over medium heat, combine the butter, brown sugar, granulated sugar, and sweetened condensed milk. Cook, stirring constantly, until the mixture comes to a boil.
Reduce the heat to low and simmer for 5 minutes, stirring constantly.
Remove from the heat and stir in the vanilla extract.
Drop the caramel by rounded tablespoons onto the prepared baking sheet.
Let the caramel cool slightly.
In a medium bowl, melt the chocolate chips and butter together in the microwave or over a double boiler.
Dip each caramel in the melted chocolate and place on the prepared baking sheet.
Sprinkle with the pecans.
Let the turtles cool completely before serving
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