I don't buy caramel anymore. I make my own "dulce de leche" and here is how. OK, caramel and dulce de leche are different, but I think dulce de leche is so delicious, I don't want caramel anymore.
Take a can of SWEETENDED CONDENSED MILK, take off label, don't open.
Put it in a large pot of boiling water, so that the water is 2 inches above the can. You have to stay home and up for 4 hours, don't skimp on the time.
Keep this simmering for 4 HOURS. Keep pouring boiling water from a tea kettle into the pot so that the water level never goes below the top of the can.
After 4 hours, remove the can from the pot to cool.
DON'T OPEN THE CAN TILL IT IS COMPLETELY COOL, THERE IS ALOT OF HEATED PRESSURE INSIDE AND IT CAN BURST ONTO YOU AND BURN YOU!!!!!
WHen it is cool, open, pour into a bowl and use as you wish, in between cookies, over fruit, take a spoonful over ice cream, on toast. The white milk turns into a beautiful brown caramel spread. My kids go crazy for this.
It keeps for a week or two, keep refrigerated covered.