MICROWAVE caramels and water in medium microwaveable bowl on HIGH 30 sec.; stir until caramels are completely melted. Cool 2 min. Stir in sour cream and 1/2 tsp. cinnamon. Refrigerate until ready to use.
WHISK cream cheese, pumpkin, brown sugar, flour, zest and remaining cinnamon until well blended. Spoon about 2 tsp. onto center of each won ton wrapper. Moisten edges with egg white; fold diagonally in half. Pinch edges together tightly to seal.
HEAT oil in large saucepan on medium-high heat to 350ºF. Add won tons, in batches; cook 2 to 3 min. or until evenly browned. Drain. Cool slightly or to room temperature. Sprinkle with powdered sugar. Serve with caramel sauce.
Note to Justine: I tried leaving a message on your blog, but it wouldn't let me. It kept telling me the word I entered didn't match. Even though it dd. Weird. Your virtual Halloween party was fantastic!!! <3 I will write more in an e-mail soon. :)