In a saucepan, heat the sugar over medium heat, stirring constantly, until it turns into a golden brown caramel.
Add the butter and stir continuously until completely melted into the caramel.
Slowly pour in the milk and heavy cream, stirring constantly to prevent the caramel from clumping.
Let the mixture simmer over low heat for 5 minutes to allow the flavors to meld, then remove from heat.
Add the vanilla extract and a pinch of salt if you want to make it a slightly salted caramel flavor.
Allow the mixture to cool completely to room temperature, then refrigerate for at least 2 hours to chill thoroughly.
Pour the well-chilled ice cream base into an ice cream maker and prepare according to the machine's instructions. If you don't have an ice cream maker, pour it into a freezer-safe container and stir with a fork every hour to prevent ice crystals from forming.
Place the ice cream in the freezer for at least 4 hours to harden completely.
Before serving, let it stand at room temperature for a few minutes to make it easier to scoop. You can garnish with extra caramel sauce or toasted nuts.
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