Step 1: In a large microwave safe bowl combine the first 5 ingredients.
Step 2: Cook mixture for 6 minutes, whisking at 2 minute intervals.
Step 3: Note: Depending on the wattage of your microwave it may take longer than 6 minutes. If this is the case, just microwave it at 1 minute intervals (whisking at each interval) till it comes in to a nice caramel colour.
Step 4: When caramel mixture is finished, pour in 1/2 c. heavy cream and vanilla, whisk vigorously till everything is well incorporated.
Step 5: Store in a glass jar in the fridge and enjoy as ice cream topping or in any recipe which calls for melted caramels ;).
Step 6: Note: 1 bag caramels (melted) equals approx. 1 1/2 cups of this caramel.
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