Preheat oven to 400F. Unfold pastry sheet on lightly floured surface.
Cut into 3 lengthwise strips along fold marks.
Cut each strip crosswise into 3 squares; place on baking sheet.
Bake 15 minutes or until golden brown.
Remove to wire racks; cool completely.
Split each pastry square horizontally into 2 layers, making a total of 18 squares. Set aside the 9 top layers. Spoon 3 Tbsp. of the whipped topping onto each bottom layer.
Drizzle evenly with caramel topping; sprinkle with pecans. Cover with pastry tops; sprinkle with powdered sugar. Store leftover desserts in refrigerator.