Combine water, sugar and salt in a small sauce pan over medium heat. Stir with whisk for about 5 minutes. The syrup should be at a boil. Without stirring, let the syrup boil for 10 minutes or until the syrup is a medium amber color.
Carefully, stir 1/3 of heavy cream into the syrup. Turn heat down to medium-low and stir in the remaining cream. Simmer the mixture about 3 more minutes. Remove the mixture from the heat and stir in the vanilla extract. You now have Homemade Caramel Sauce but it will be runny because it’s still warm. Let the caramel sauce cool in a heat resistant container and plop in the fridge for about an hour. Once you remove the Homemade Caramel Sauce from the fridge, it will have thickened up. Enjoy!