Heat over medium heat with out stirring until the caramel turns a deep amber color. Swirl the pan occasionally to ensure even caramelization.
Lower the heat and carefully add the cream.
16 ounce heavy cream
Stir continuously until mixture has smoothed out.
Insert a candy thermometer and continue cooking the caramel sauce until it reaches 225° F (107° C)
Stir in the vanilla extract until fully combined.
1 tablespoon vanilla extract
Pour caramel sauce into a heatproof container(s) (glass canning jars are excellent for this) to cool until just warm before using. Store remainder in the refrigerator, warm in the microwave before use.
Notes
This is a very large batch of caramel sauce, it will yield just over 20 ounces total. That is about 20 servings. Caramel sauce will keep for a very long time in the refrigerator and I love having it on hand to add to recipes or drizzle over just about anything (fruit, cakes, ice cream, various breakfast foods!) A note on the optional corn syrup: Corn syrup interferes with the formation of crystals. This is a caramel sauce, intended to stay in a liquid state rather then setting up into a creamy chewy candy, so there is very little risk of crystals forming. But, if you'd like to take out just a little bit of insurance, feel free to add the corn syrup.Note on flavors: this caramel sauce is absolutely delicious as is, but it can be fun to experiment with other flavors.
I like to replace the water with apple cider and stir in a teaspoon of cinnamon at the end to make apple cider caramel
You can add 1 - 2 teaspoons of espresso powder to the heavy cream and make a coffee caramel
Allow the caramel to cool to about 110° F, then stir in 1 cup (180g) of the chocolate of your choice to make a chocolate caramel