To Prep: Line an 8-inch square baking pan with parchment paper and coat with non-stick cooking spray.
Place butter in a medium microwave-safe bowl, heating in microwave until melted.
Add remaining ingredients to the bowl of melted butter, except the vanilla. Mix well.
Microwave for 3 1/2 minutes. Carefully remove bowl from microwave, stir and scrape the sides of bowl.
Microwave caramel mixture for an additional 4 minutes. Remove bowl from microwave and stir in the vanilla. Careful, the bowl may be hot.
Pour the caramel into your prepared baking dish. Allow to cool completely to room temperature.
Place pan in refrigerator to chill for 30 minutes until set.
Use the parchment paper to pull the block of caramel out of the pan. Cut into squares and wrap in plastic or parchment paper.
Notes
Nutrition information is provided as an estimate only and is per caramel (based on 40 per batch).
Yield: Makes about 40–50 individual caramels.
Butter: Use salted or unsalted butter. Salted butter adds a built-in salted caramel flavor; sprinkle coarse salt on top if desired.
Variations: Stir in chopped nuts for crunch, or dip caramels in melted chocolate for an extra treat.
Storage: Wrap in wax paper and store in an airtight container at room temperature up to 2 weeks or refrigerate up to 1 month. Bring to room temp before serving.
Freezing: Freeze individually wrapped caramels in a sealed container or bag for up to 3 months. Thaw at room temperature before enjoying.