Ingredients:

• ¼ cup cold water
• ¾  cup sugar
• ¼ cup hot water

Directions:
Combine the cold water and sugar in a sturdy, medium saucepan over medium-high heat and stir well. Cook, tilting the pan to swirl the sauce now and then until the liquid becomes syrup and the color begins to change, 5 to 7 minutes. Have the hot water handy by the stove.
Watch carefully as soon as the syrup turns from clear to soft gold, to the color of honey. Swirl the syrup gently now and then, and be vigilant; this is the point at which things start to happen fast. When the syrup is as dark as maple syrup, but not as dark as molasses, carefully pour the hot water down the side of the saucepan, and expect a small eruption of bubbling, steamy chaos.
Once the syrup settles down, continue cooking, stirring, until you have a smooth, thin, and caramel-colored sauce.
Set aside to cool, and then transfer to a jar and close tightly. The syrup will keep at room temperature for up to 1 month.
Makes about 1 cup