My very favorite caramel is from GayleMO, which I alter to make sauce...
This is absolutely amazing in flavor. You can turn it into sauce by increasing the amount of cream you add at the end. Even with the recipe done exactly like posted, it makes a soft caramel candy.
Everyone-Begs-For-This Caramel
from GayleMO on the FinerKitchens.com swap
2 cups sugar
1/2 cup real butter
3/4 cup light Karo syrup
2 cups light cream (1 pint)
Butter 8" square baking pan. Combine ingredients in heavy large sauce pan (minimum 4 quart). (must be heavy, and not light weight) as it needs that slow even heat. Have a bowl of cold water handy in case the caramel begins to cook or brown too fast. Bring saucepan to boil over med high heat, stirring often. Watch mixture, and as it begins to thicken and darken, stir constantly, until it reaches 245 degrees (soft ball) on candy thermometer.
Immediately pour into prepared pan. Cool. Cut into squares and wrap in waxed paper twists. Store in tin.
NOTE: I made this and dipped green apples in it for candy apples - WOW!! they were amazing... use popsicle sticks in the top of the apples, let caramel cool for 5 minutes, let as much caramel drip off the apple as you can (roll in nuts, chips, etc. if you like) then put on waxed paper, refrigerated, to set.