Combine all ingredients in a small sauce pot with tall sides.
Slowly bring to a boil over medium heat stirring constantly.
Continue to boil over medium-low heat for 12 minutes stirring frequently.
Remove from heat and stir in vanilla.
Pour into glass jar or other heatproof container. Immediately wash the pot.
Cool slightly before using. Refrigerate unused portion for up to 5 days. Rewarm gently before using.
Be sure to us a small diameter pot with tall sides. The syrup with bubble up. You want to keep it at a boil for the entire time. Adjust the heat so that it doesn’t boil over, but keeps boiling.
Do not stir while the caramel sauce is cooling or your sauce will become grainy.
This is delicious over ice cream on a Chocolate Chunk Skillet Cookie.