DIY from scratch

This is a great topping for cakes and ice cream.

Place a can of sweetened condensed milk (with the label removed) on its side in the bottom of a stockpot filled with water, and covering the can completely with water, plus about an inch. Replenishing the water as necessary to keep the can totally submerged.   This prevents the can from bursting.

LONG AND SLOW METHOD – CONSISTENT RESULTS

Keep the closed can at a low simmer for 3-4 hours.

Using tongs, transfer the can to a wire rack and let cool completely before opening.

Drizzle the caramel over the ice cream or use it as a filling for sandwich cookies.

Leftover dulce de leche can be stored in the refrigerator in an airtight tight container and re-warmed in a double boiler or microwave.

FASTER DULCE de LECHE

If you are in a hurry, pour the condensed milk into a casserole, then put the casserole into a larger baking pan with hot water coming up about halfway.  Cover the casserole with foil and bake at 350º for 90 minutes.

Here is another recipe

Alternate Recipe

• Step 1: Heat the sugar over medium heat in a non-stick frying pan or 2-quart saucepan. Stir constantly using a rubber spatula. Within a few minutes the sugar will start to liquify and turn amber in color. Keep stirring until the sugar fully dissolves into a brown-colored syrup.
• Step 2: Turn the flame down low and add the sweetened condensed milk (keep stirring as you’re adding it) and then add the butter and vanilla extract. The caramelized sugar will start to harden and bubble when you add the ingredients. Keep stirring, the mixture will become smooth again after 5-7 minutes. 
• Step 3: Carefully transfer the dulce de leche to a small bowl or mason jar. Let it cool slightly.