Combine all ingredients except the pecans in a heavy saucepan. Over medium heat stir mixture until it comes to a boil. Turn heat down to medium-low and continue to stir. Spoon mixture up on sides of pan to melt any sugar that hasn't melted.
Cook until mixture reaches 238 to 241 degrees F on a candy thermometer or soft ball stage. Stir in the pecans. Remove from heat. Stir until the mixture begins to thicken and becomes creamy and cloudy. Drop onto parchment paper, buttered pan or buttered marble slab, using a spoon or ice cream scoop. Let cool.
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