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Add the sugar and water into a medium saucepan and stir until sugar is dissolved. Place over medium-high heat and brush the inside of the pot with a wet pastry brush so crystals do not form.
Cook until sugar mixture becomes a golden amber color, then remove from heat and whisk in the cream vigorously. Add butter and bring back to a medium low heat. Continue whisking and cook for an additional 2-3 minutes.
Mix in salt, transfer to a bowl and set aside to cool to room temperature. Caramel can be made in advance and refrigerated.