In a small saucepan over medium heat, add your sugar and water. Swirl it to combine (hold onto the handle of the pot and move the pot in circular motions). Don't stir, as the caramel can crystallize. You will know it has crystallized if the sugar stays white and forms dry clumps after more than 5 minutes on the heat. If this happens, don't worry: add 2 tbsp water and don't stir it (let it cook until it becomes fluid)! If needed, add more water.
Cook the sugar and water for 10-12 minutes, swirling every few minutes, until deep amber color. Meanwhile, microwave your cream for 20-30 seconds until warm to the touch.
Standing back (it can splatter!), add the cream and stir. Let simmer on low heat for 2-3 more minutes. Add the butter, vanilla, and salt. Taste, then add more salt if you want. Enjoy!