Lightly coat a baking sheet with cooking spray. Remove stems from the apples. Insert one wooden stick into stem area of each apple.
 
Place caramels in saucepan. Add the water. Heat, stirring until caramels are melted. Working quickly with one apple at a time, while keeping caramel over low heat, dip the apple into the caramel, turning to coat the apple. Remove the apple from the caramel and gently shake.
 
Roll apples in pistachios and chocolate chips. Place on the prepared sheet. Refrigerate until caramel is cool.