Butter the sides and bottom of a heavy 3-quart saucepan. Add butter and melt over low heat. Add sugars, corn syrups and cream; mix well.
Raise heat to medium-high and bring mixture to a boil, stirring occasionally. Reduce heat to medium and continue to boil until mixture reaches 248°F (use candy thermometer).
Remove saucepan from heat and stir in vanilla. Pour caramel immediately into a 9-inch square pan lined with buttered foil. Cool at room temperature until caramel begins to set, sprinkle with sea salt; cool completely.
Use foil to lift caramel out of pan. Butter a large chef's knife and cut caramel into 1-inch squares. Wrap caramels individually in plastic wrap or store in an airtight container in the refrigerator for up to one week.
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