Prepare your cream, butter, and vanilla; have it ready near your cooking space.
In a large saucepan (at least 2-quart), combine the water and sugar. Whisk together over medium heat until dissolved.
Turn up the heat fairly high and allow to boil until it reaches a golden honey color. Do not stir it while it is boiling, just swirl the saucepan as needed.
When the sugar syrup is a golden color, add in the remaining ingredients while stirring briskly.
***Be careful that it doesn't cook over!!!***
Remove from heat and continue to stir until the butter is completely melted and incorporated.