Some or all of the topping suggestions: chopped up Heath bar, toasted hazelnuts, chocolate chips, fresh coconut wedges, fresh raspberries, mini bananas, mint, fresh raspberries, penny candy, etc.
In a saucepan over medium-high heat, add water and sugar. Stir occasionally for approximately 5 minutes, or until sugar melts and turns a golden brown. (Keep a watchful eye on sugar because it will go from being golden brown to burning in about 1 minute).
Immediately remove from heat and whisk in cream* see Note. Stir constantly until smooth. At this point, caramel sauce will be very thin. After it cools, it will thicken to the consistency of, well...caramel sauce.
To serve, set out ice cream along with caramel sauce and other toppings. Let guests build their own sundaes.
When adding and stirring cream, wear an oven mitt on your stirring hand. The heat of the sugar will cause a tremendous amount of scalding steam when it comes into contact with the cream.
Recipe courtesy of Bob Blumer