Line an 8x8 inch pan with parchment paper, leaving overhang for easy removal.

Lightly oil the parchment to prevent sticking.

Measure and prepare all ingredients in advance.

Have a cup of cold water ready for testing the caramel.

Combine sugar, water, and corn syrup in a heavy-bottomed saucepan.

Stir just until sugar is moistened. Avoid splashing sugar on the sides.

Heat over medium-high heat without stirring.

Watch for the mixture to turn golden amber (about 8-10 minutes).

Reduce heat to low and carefully stir in butter.

Slowly add heavy cream while stirring constantly.

Stir in the salt.

Test the Caramel

Continue cooking and stirring for about 5-7 minutes.

Drop a small amount of caramel into the cold water.

Test the texture: it should form a firm but pliable ball.

Remove from heat and stir in vanilla extract (and bourbon/rum if using).

Pour caramel into the prepared pan.

Optional: Sprinkle with flaky sea salt.

Let cool for about 2 hours.

Lift the caramel from the pan using the parchment paper.

Cut into 1-inch squares using a sharp knife.

Wrap each piece in wax paper or parchment paper.