Homemade Caramel Recipe

The following is mostly for my own records, but you should feel free to use it too. It comes from this website.

CARAMEL:

3 c. sugar, divided
3/4 c. milk
1 egg, beaten
Pinch of salt
1/2 c. butter (cut up)

Sprinkle 1/2 cup sugar in heavy saucepan; place over medium heat. Cook, stirring constantly, until sugar melts and syrup is golden brown.

Combine remaining 2 1/2 cups sugar, milk, egg and salt in a bowl, stirring well; stir in butter. Stir butter mixture in caramelized sugar. (The mixture will lump, becoming smooth with further cooking.) Cook over medium heat, stirring frequently, until a candy thermometer registers 230 degrees (15-20 minutes). Cool 5 minutes. Beat with a wooden spoon to almost spreading consistency and spread between layers and on top of cake.