Step 1

Combine evaporated milksugarbutter and corn syrup in mediumheavy-duty saucepan.Bring to a boil over medium heatstirring constantly.Reduce heat to low; cookstirring constantlyfor 3 minutes.Remove from heat.Stir in morsels and vanilla extract until thickened and smooth.

Step 2

Serve over ice cream or cake.Store leftover sauce in refrigerator; reheat before serving.If neededadd water to thin to desired consistency.Recipe makes approximately 3 cups.