Prepare the Caramel Base: In a pot, combine 1/3 cup of water with 1/2 cup of sugar. Turn on the heat to medium.
Cook Without Stirring: Let the sugar mixture cook without stirring. After about 5 minutes, it will start to change color. Note that the darker it gets, the more bitter the flavor will be.
Add Cream: Once the sugar mixture starts to smoke, turn off the heat and gradually add 1 cup of heavy cream, stirring continuously.
Final Touches: Turn the heat back on. Add a big pinch of salt and 2 tablespoons of unsalted butter. Bring the heat to high and let it cook for another 3 minutes.
Finish the Sauce: Turn off the heat. The hot caramel sauce is now ready to be served.
Serve: Serve the hot caramel sauce over vanilla ice cream for a delightful dessert.