Step 1

Line a 9x13'' pan or jelly roll pan with parchment paper. (If you don't have parchment paper you can generously butter the pan.) Either size pan will work--9x13'' will yield thicker caramels.

Step 2

Add 2 sticks butter, sugar, and karo syrup to a large heavy-bottom saucepan over medium heat. Stir over medium heat until mixture begins to boil, about 5-10 minutes.

Step 3

Gradually add the evaporated milk, one can at a time, taking about 12-15 minutes PER CAN to slowly add it, while stirring constantly. You want to make sure the mixture maintains a constant boil, otherwise your caramels can curdle.

Step 4

Stir the mixture constantly, scraping the sides occasionally until it reaches a firm ball stage (about 240-245 degrees F on a candy thermometer). It takes patience and time, but it's sooo worth it! (Also, I don't really trust or rely on a candy thermometer--I like to test it the old fashioned way. Drop a spoonful of hot caramel sauce into a cup of ice water and mold it with your fingers into a ball. When ready it will feel pretty firm and pliable, but still slightly sticky.)

Step 5

Once you reach 240-245 degrees F / or the firm ball stage, remove from heat. Stir in vanilla.

Step 6

Pour caramels into prepared pan. Refrigerate until cooled and hardened. (Best if you refrigerate them overnight, or for several hours. They will be easier to cut and wrap).

Step 7

The caramel will seem hard in the fridge after they're set, but they should be soft at room temperature. Cut caramel into small pieces and, if desired, wrap like a tootsie roll in wax paper.

Step 8

Try these dipped in chocolate or pretzel rods.