Step 1

Line a 9-inch square baking dish with foil. Butter the foil. Set aside.

Step 2

In the top of a double boiler, combine the heavy cream wi th the sweetened condensed milk. Heat pan over low heat until milk and cream are warm. Keep on a low simmer, stirring occasionally.

Step 3

In a large 3-4 quart saucepan, combine the sugar, corn syrup, and salt. Heat over medium heat until boiling, stirring with a wooden spoon. Attach a candy thermometer to the side of the pan.

Step 4

Very slowly, over medium heat, add 1/4 cup of the warmed cream mxture to the boiling sugar mixture, while stirring with a wooden spoon. Wait about 3 minutes between each addition of cream (this process will take about 45 minutes). Be sure to continuously stir the mixture.

Step 5

Once all the additions of the warm cream have been added, monitor the candy thermometer until it reaches 242 degrees F.

Step 6

Remove from heat and immediately stir in the vanilla extract. Quickly pour the caramel into the buttered foil-lined baking dish.

Step 7

Allow caramel to set at room temperature for several hours, or overnight.

Step 8

To cut the caramels, lift out of the pan and place onto a cutting board. Remove the foil. With a large, sharp knife cut the candy into long strips (about 1-inch wide). Turn pan and cut the candy in the opposite direction in about 1 1/2-inch pieces (they will be the size of a small tootsie roll).

Step 9

Wrap candy in small pieces of plastic wrap or parchment paper. Cut 5-inch squares of plastic wrap or parchment paper, place the caramel on top, roll the caramels, then twist both ends.