When I made this, it didn't really hold it shape when I cut it. But it will work great for recipes where you take package caramels and melt them anyway; it saves the time from having to unwrap all of those wrappers
1 cup butter or margarine
1 (16oz) pkg (2 1/4 cups packed) brown sugar
1 cup light corn syrup
1 (14oz) can sweetened condensed milk
1 tsp vanilla
Line a 9x9x2" baking pan with foil, extending foil over edges of pan. Butter the foil and set pan aside. In a heavy 3 quart saucepan melt the 1 cup of butter or margarine over low heat. Add brown sugar, sweetened condensed milk, and light corn syrup; mix well. Carefully clip candy thermometer to side of pan. Cook over medium heat, stirring frequently, until thermometer registers (242 degrees), firm ball stage. Mixture should boil at a moderate, steady rate over the entire surface. Reaching firm ball stage should take 15-20 minutes. Remove saucepan from heat and then remove candy thermometer from saucepan. Immediately stir in vanilla. Quickly pour the caramel mixture into prepared baking pan. When caramel is firm, use foil to lift it out of pan. Use a buttered knife to cut candy into 1 inch squares. Wrap each piece in clear plastic wrap. Makes 81 pieces or about 2 3/4 pounds.
Shortcut: Substituting sweetened condensed milk for cream cuts the cooking time in half.
For chocolate shortcut caramels: prepare shortcut caramels as directed, except melt 2 squares (2oz) unsweetened chocolate with the butter or margarine.