Delicious and creamy caramel apple sauce that is perfect for making caramel apples, or dipping sliced apples into. You can also drizzle it over your favorite apple pie or ice cream!
In a medium saucepan, melt butter over medium heat.
Add the packed brown sugar, corn syrup and sweetened condensed milk and stir together until creamy and smooth.
While stirring constantly, bring the mixture to a light boil over medium heat. The bubbles should pop to the surface but should not be a really heavy rolling boil.
Cook for a couple minutes. You will see the color start to brown slightly and thicken.
Remove from heat immediately (don't leave on too long or you can cause the caramel to harden or even scorch on the pan).
Stir in the vanilla extract.
Serve warm or at room temperature with apples and other items to dip in the caramel...OR use to dip your caramel apples into.