Set apples on your work surface. Insert a stick into each one.
In a medium saucepan, melt butter. Add brown sugar and water, stirring constantly until smooth. Bring to a boil, cover, and simmer for 2 to 3 minutes, until mixture is thin and sticky. Remove from heat.
Swirl each apple in caramel until coated, then roll in candy or sprinkles. Place apples on a cookie sheet covered with wax paper and coated with canola oil spray. Refrigerate for at least one hour before serving.