Line an 8 inch square baking pan with aluminum foil, and grease the foil.
Combine the vanilla chips, and sweetened condensed milk in a saucepan over medium heat. Stir frequently until almost melted, remove from heat and continue to stir until smooth. When chips are completely melted, stir in 3/4 cup of candy canes.
Spread evenly in the bottom of the prepared pan. Top with remained candy canes.
Chill for 2 hours, then cut into 1 inch squares.