In a saucepan combine sugar and water and bring to a boil over high heat. Lower the heat to medium and simmer until the mixture turns deep amber in color, about 6 to 8 minutes. Watch very carefully as this mixture turns color very quickly.
Carefully add the cream. The mixture will bubble and spit when the cream is added. Remove from the heat, stir, and add the liqueur. Cool slightly.
Recipe courtesy of Wolfgang Puck, 2004