To begin, butter a 9-inch cast iron skillet or a 9 x 9 inch baking dish. Tear the croissants into pieces and place them in the skillet. Set it aside for now.
Place the water and sugar in a medium sized saucepan. Stir them together to a minute to dissolve the sugar a little.
Heat the saucepan over medium high heat and let the mixture begin to boil. Without stirring, let it boil together until the sugar becomes a beautiful amber color, about 3-5 minutes. If you find that you need to mix it, simply swirl the saucepan over the heat. Remove it from the heat.
Immediately add in the heavy cream while stirring briskly with a whisk. The mixture will bubble up suddenly, which is why you wanted a larger saucepan than you would have assumed for the amount of sugar.
When it settles down, stir in the butter and bourbon. Return it to the heat and let it cook on low for another minute while you whisk it. Set this aside for a moment.
In a mixing bowl, whisk the eggs. Add in the milk and whisk them together. While whisking briskly, slowly drizzle the caramel down the inside of the bowl and into the mixture. Pour this over the croissants. Take a wide spatula and gently press the croissants into the custard to absorb as much as they can. Set it aside while you preheat your oven to 350 degrees.
Bake this in your oven for 20-25 minutes, or until it is set in the center.
Allow it to cool for about 5 minutes before serving this heavenly dish. Feel free to serve it with a scoop of ice cream or a dollop of whipped cream. Of course you could simply eat it naked. That is how I prefer it.