Line cookie sheet with foil. In 2-quart saucepan, stir all ingredients except boiling water with wooden spoon. Heat over medium heat, stirring constantly, until boiling rapidly. Boil and stir 3 minutes. Place boiling water in measuring cup. Remove candy from heat and continue stirring vigorously 4 to 5 minutes or until thick but still shiny.
Working quickly, drop praline mixture by tablespoonfuls onto cookie sheet, flattening into patty shape with back of wooden spoon if needed. If mixture stiffens too much to drop from a spoon, quickly stir in hot water, 1/4 teaspoon at a time, until smooth. Cool completely, about 30 minutes. Store in tightly covered container.