In a saucepan over medium heat, bring the cream, cinnamon and vanilla to a boil. Remove from the heat and set aside.
In another saucepan over medium-high heat, bring the sugar, water and corn syrup to a boil. Cook without stirring until the sugar turns golden brown. Remove from the heat and gradually add the butter and cream mixture. Beware of splattering.
Bring back to a boil and simmer over low heat, stirring constantly until the caramel is smooth. With tongs, remove the cinnamon stick.
Pour into glass jars and let cool completely. The caramel will keep for two weeks at room temperature, or one month in the refrigerator.
This caramel is prepared with light corn syrup. Its light colour is better suited for monitoring the change in colour of the sugar syrup during the caramelization stages. Golden corn syrup can play tricks on beginner bakers.
Recipes with the "Healthy Pick" stamp have been evaluated by a registered dietitian member of the Ordre professionnel des diététistes du Québec.