In a heavy bottomed saucepan, combine sugar and water.
Set over medium heat and allow to melt stirring lightly.
When sugar is completely melted, stop stirring and allow to cook.When sugar begins to brown, watch it closely.
When it becomes a rich caramel color, remove from heat and add butter.
Stir vigorously to combine.
Add heavy cream and stir well.
Caramel thickness can be adjusted by the amount of cream added.
A little less, a little thicker. A little more, a little thinner.