Add the first 3 ingredients to a saucepan and bring it to a boil over medium heat. Cook the mixture until the sugar has dissolved, about 10 to 15 minutes.
Lower the heat to a simmer and cook until the sugar mixture becomes an amber color, about 20 to 30 minutes. Remove from the heat and stir in the remaining ingredients. Bring the mixture back to a light simmer and cook for 5 minutes. Set aside and let cool for about 30 minutes.
Serve in a fondue pot with dipping choices surrounding the pot so they can be easily dipped in the caramel.
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