Combine the sugar and water in a medium* heavy-duty saucepan and cook over high heat, whisking until the sugar dissolves
Let boil for several minutes without stirring until the mixture becomes a deep amber color, watching closely so it doesn’t burn; Once the caramel begins to darken, the rest of the process happens very quickly (see photos above for caramelization process)
As soon as most of the sugar water mixture is a deep amber, whisk in the cream (be careful as mixture will bubble up) and remove from heat immediately
Whisk in milk and sea salt
Place pot back over low heat and quickly whisk in peanut butter; remove from heat as soon as combined
Serve warm or store covered in refrigerator up to two weeks**
Notes
Adapted from my salted caramel and this peanut butter caramel *If doubling, use a large pot and allow extra time for caramelization **For thicker sauce, chill in refrigerator for a few hours before using or serving; re-heat gently before serving
Recipe by Keep It Sweet Desserts at http://www.keepitsweetdesserts.com/peanut-butter-caramel-sauce/