To make caramel:

1. Stir the water and sugar together in a large heavy-bottomed, light-colored pan. Set the pan over medium high heat. Stir occasionally, allowing the sugar to dissolve. Once the sugar granules have dissolved completely, quite stirring the mixture and allow it the sugar to come to a boil. Once the mixture begins boiling, watch it carefully as the mixture turns from clear, to pale yellow, to golden. You can swirl the mixture occasionally to keep it browning evenly. After about 9 minutes of boiling, the mixture willl turn into a deep color, similar to a shiny copper penny. Remove the mixture from the heat and use immediately. 

To make salted caramel sauce:

1. Once you caramel has completed browning, remove from heat and immediately being to slowly add the heavy whipping cream, whisking vigorously to incorporate. Wear oven mitts during this process to ensure that the fierce steam and bubbling doesn’t spatter or burn your hands. Place back on low heat and continue stirring for about 1-2 minutes until the mixture is smooth and incorporated. Add the butter and salt, stir to combine, and allow the mixture to cool in a heat-proof container. Keep refrigerated until ready to use.