In a small bowl stir together 1 cup powdered sugar, 2 tablespoons caramel ice cream topping, and 2 to 3 tablespoons milk until smooth and of drizzling consistency. Makes 1/2 cup.
If you don't have a cookie press, shape dough into 1 1/4-inch balls. Arrange 1 inch apart on ungreased cookie sheets. Flatten slightly. Bake, cool, and drizzle with icing as directed. Makes 64.