Line a large, rimmed baking sheet with parchment paper to prevent sticking and make cleanup easier.
Melt 8 ounces of chocolate chips gently in the microwave on low heat, stirring every 15 seconds until smooth and creamy.
Spread the melted chocolate evenly over the parchment-lined baking sheet. Immediately place the pretzel twists on top, pressing them gently into the chocolate, allowing some overlap.
In a microwave-safe bowl, combine caramel bits with 2 tablespoons of water and melt according to package instructions, stirring well after melting. Drizzle this gooey caramel over the pretzels.
Melt the remaining 4 ounces of chocolate and drizzle it over the caramel layer before sprinkling flake salt on top for an added touch of flavor.
Place the baking sheet in the refrigerator until everything is hardened. Once set, cut or tear into pieces and enjoy!