I tried this recipe to day and it was sooo good. It can be used as ice cream topping, for apple dipping or any other thing that uses a caramel sauce. It was really easy to make:
2 cups granulated sugar
1/2 cup water
1 (14-ounce.) can Sweetened Condensed Milk
1/2 cup butter, softened - divided use
2 teaspoons vanilla extract
1. Combine sugar and water in medium, heavy-duty saucepan; cook over medium-high heat, stirring occasionally, until mixture comes to a boil. Continue to boil, without stirring, for 10 to 14 minutes, tilting pan occasionally to keep color even until mixture turns a deep caramel color.
Remove from heat.
2. Stir in sweetened condensed milk (mixture will foam up); do not scrape sides of pan. Add half the butter, one tablespoon at a time, stirring well after each addition. Stir in remaining butter and vanilla extract until smooth. Serve over ice cream or cake, if desired.
Makes 3 cups.
I didn't have any sweetened condensed milk so I make my own by wisking together 3 tbs butter, one cup milk, 1/4 cup light corn syrup, 3/4 cup sugar and a dash of salt in saucepan. Bring to a boil and decrease heat to medium high, whisk for 3 to 5 minutes depending on thickness you want.