Grab a 3-quart thick-bottomed pot (this helps keep things from burning). Pour in the sugar and water, and give it a gentle stir—just enough to mix it. Try not to splash any up the sides of the pot; we want it all settled in a nice, even layer.
Put the pot on medium heat and let it do its thing. In a few minutes, the sugar will melt—it’ll go from cloudy to clear and start bubbling. Once that bubbling starts, don’t stir anymore! Just let it simmer gently on medium heat.
If you see any sugar crystals forming around the edges, use a spatula to gently brush down the sides. This helps keep it smooth and prevents it from turning grainy.
Now just let it cook until it turns a deep golden color—like honey. This part takes a bit (anywhere from 8 to 15 minutes), so don’t walk away. It can go from perfect to burnt real fast.
Once it’s that rich golden color, carefully add the butter. Heads up—it’s going to bubble up like crazy! Just keep whisking until the butter melts completely.
Take the pot off the heat and slowly pour in the heavy cream, whisking the whole time. It’ll bubble again (totally normal). Keep whisking until everything’s smooth and gorgeous.
Add the good stuff: Stir in the vanilla and salt. That’s it—you’ve made caramel!
Let the caramel sit in the pot for about 10 minutes to cool down a bit. Then pour it into a glass jar with a lid. It’ll still be runny at this point, but don’t worry—it thickens up as it cools.
Once it’s completely cool, pop it in the fridge (since it has cream and butter in it). It’ll firm up into that rich, chewy texture.
When you want to use it again, just warm it up gently and give it a little stir. Done!
Notes
Storage: This caramel will keep in the fridge for up to 3 weeks if you keep it tightly sealed. You can also stash it in the freezer for up to 2 months if you want to make it ahead.Just a heads-up: it’ll firm up in the fridge (totally normal!), so when you’re ready to use it again, pop it in the microwave for about 10 to 15 seconds to get it nice and pourable. Give it a little stir and you're good to go!