Prepare all ingredients so they are ready to enter the pot.
Add butter, sugar, condensed milk, and milk.
Cook on medium heat and allow the butter to thoroughly melt.
Once melted, increase heat to medium-high and bring to a light boil.
Boil for 5 minutes.
You want the melted mixed ingredients to be blended and stirred constantly.
Do not stop stirring or it might stick or burn.
The color will start more yellow and turn more golden.
The caramel will pull from the sides are you are mixing it and become thicker.
IF you are temping this, you will want 245° F do not let go beyond this as it will change the consistency of your caramel and the pliability.
Once it sets for about a minute it will also thicken.
Remove from heat.
Allow cooling slightly if you are using it on ice cream or it will melt it.
IF you are using the soft caramel in a bar cookie, or cake, use immediately or reheat to soften.
Store any leftovers in an airtight jar in the refrigerator for up to 14 days.