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Spray an 8-inch square baking pan with cooking spray and line the bottom with parchment paper (or wax paper). Set pan aside.
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Combine the white chocolate chips and sweetened condensed milk in a large, microwave-safe bowl.
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Heat in 30-second intervals, stirring well after each interval, until the baking chips are melted and the mixture is smooth. (Sometimes the chips don’t melt well, just keep stirring; you don’t want to overheat them as white chocolate scorches easily!)
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Add peppermint extract and salt and stir briefly to combine. Mix in a 1/2 cup of the crushed candy canes.
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Scrape into the prepared baking dish, smooth into an even layer, and sprinkle with the remaining 2 tablespoons crushed candy canes.
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Refrigerate until set, about 2 hours. Once set, slice your fudge and serve.
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Uneaten candy cane fudge can be stored in an airtight container, layered with wax paper, in the fridge for up to 2 weeks (sometimes a little longer). It can also be stored in the freezer (again in an airtight container) for about two months.