Servings: Makes about 125 one-inch pieces
Active time: 30 minutes
Total time: 1 hour, 30 minutes
In a medium, heavy-bottomed saucepan, bring sugar, evaporated milk, and heavy cream to a boil over medium heat. Add corn syrup and continue cooking until mixture reaches 230°.
Add butter and vanilla; continue cooking, stirring constantly, until caramel reaches 240°. Remove from heat, stir in salt, and carefully pour into a lightly oiled 9" x 13" baking dish (parchment paper in the bottom of the pan is helpful).
Let cool at least 1 hour. Invert onto a cutting board covered with waxed or parchment paper and cut into 1-inch pieces with a sharp, lightly oiled knife. Caramels can be wrapped in waxed or parchment paper or cellophane. (To serve candy-store style, wrap individual pieces in parchment paper and secure the ends with a simple twist.) Store airtight at cool room temperature (around 65°) or in the refrigerator; will keep up to 3 weeks.