In a medium, heavy-bottomed saucepan, combine the granulated sugar and water. Stir gently until all the sugar is moistened.

Place the saucepan over medium heat and bring the mixture to a boil.

Once boiling, stop stirring. Allow the sugar syrup to cook for 7–10 minutes, occasionally swirling the pan, until it turns a beautiful golden amber color.

Remove the saucepan from the heat and carefully add the butter, one piece at a time. Whisk gently until completely melted and incorporated.

Slowly pour in the warmed heavy whipping cream while whisking continuously. The mixture will bubble vigorously, so be cautious.

Return the saucepan to low heat if necessary and stir for another 1–2 minutes until the caramel becomes smooth and silky.

Remove from heat and stir in the vanilla extract and salt.

Allow the caramel sauce to cool for 10–15 minutes. It will thicken as it cools.

Pour into a clean, heat-safe glass jar and let it cool completely before covering.