How to Make Homemade Caramel Sauce

0 Add the water and honey to a deep medium saucepan and whisk gently to combine. Whisk in the sugar. 
1 Place the pan over medium heat and cook until the sugar dissolves. The mixture will turn from cloudy to clear in about a minute.
3 Once the sugar begins to simmer, do not stir. If sugar crystals form around the edges of the pan, dip a pastry brush in water and brush them down. The water will sizzle and melt the crystals.
4 Continue cooking until the sugar turns amber in color, 8–12 minutes. It will go from pale honey to a deeper amber honey shade like an old copper penny, this is the stage you’re looking for. ⚠️ Be careful not to let it get any darker and burn.
5 When the caramel reaches a rich amber color, add the butter one tablespoon at a time, stirring gently and constantly. The mixture will bubble, foam, and sputter, keep your face and hands back.
7 Remove the pan from the heat. Slowly pour in the cream while whisking until smooth.
10 Stir in the vanilla, salt, and 1 tablespoon of bourbon  for extra flavor (if using). Allow the caramel to cool to room temperature. 
12 Transfer the liquid caramel to a heat proof glass jar, cover and refrigerate. The caramel will thicken as it cools.