Step 1: Pour the water into a small heavy saucepan. Carefully add the sugar to the center of the pan, then gently stir until the sugar is just moistened.
Step 2: Bring to a boil over medium heat and cook, gently swirling the pan (DO NOT STIR!) until the syrup is a deep amber color, about 5 minutes.
Step 3: Carefully pour in the cream. It will bubble and steam. Then stir. Add the butter, vanilla, optional Bourbon, allspice and salt.
Step 4: Remove from heat, stir until the butter is melted. Transfer to a bowl and cool to room temperature.
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