In a 3-quart heavy sauce pan, combine sugar and water. Over high heat, bring to a rapid boil, stirring to dissolve sugar. Continue boiling, without stirring, until syrup is light caramel or honey colored (swirling pan near end of cooking period), about 10-12 minutes.

Remove pan from heat and place on a damp cloth to prevent slipping. Slowly whisk in cream and milk. Return to medium heat. Cook whisking constantly, until caramel dissolves and mixture thickens slightly, about 2 minutes. Cool to room temperature. Serve over ice cream, cake or fresh fruit. Can be stored covered in refrigerator for several weeks.

Recipe Courtesy of The Sugar Association.