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Step 1
Fill each jelly jar up to the 6-oz. line with the sweetened condensed milk. Three cans of sweetened condensed milk should fill about 5 jars. Place a lid on each jar and tighten the band down well.
Step 2
Place the jars inside the slow cooker and pour water in to about 1" above the top of the jars.
Step 3
Cover and cook on low for 7.5-8 hours, checking occasionally to see if more water needs to be added. Do not let the water drop below the lid level.
Step 4
Carefully remove the jars from the slow cooker and enjoy! The caramel may be a tad chunky and is perfectly delicious as is, but if you prefer a creamier caramel, simple whisk it until it's silky smooth.
Step 5
Store in the refrigerator. Bring to room temperature or heat until warm before serving.