I know it may not sound like a good thing for frosting to be chewy, but trust me on this. It's not chewy like gummi bears, but chewy like a homemade caramel candy, with a solid helping of chocolate. It starts out the perfect glossy spreading consistency, then firms up into a thick, fudgy texture. How could that not be good? Let me note that I have no idea how well this would work with a layer cake where the frosting has to stick to the sides, but it works well on cupcakes or spread over a 9 by 13 inch cake left in the pan.
This frosting is also astonishingly easy to make and only has two ingredients: chocolate chips and sweetened condensed milk. It's the fudge frosting from Joanne Fluke's titular fudge cupcake recipe. I was excited about trying the cupcake recipe for months because I've had a lot of luck with her recipes and love all things raspberry (the "secret" ingredient in the cupcake batter is raspberry syrup), but didn't care for the cupcakes themselves. They weren't very chocolatey, but were both dense and dry. Sorry, Joanne. The frosting, on the other hand: divine! Make it!
Chewy Chocolate Fudge Caramel Frosting
14 oz can sweetened condensed milk (not evaporated milk)
12 oz bag semisweet chocolate chips (2 cups)
Pour sweetened condensed milk into a medium sauce pan and heat over medium, stirring frequently, just until it's hot and bubbly. Remove from heat and wait for the bubbles to subside a little (about 30 seconds), then dump in the chocolate chips. Stir mixture until chocolate chips are melted and the frosting is thick, glossy, and very smooth. Spread immediately over cake or brownies.