This is probably the simplest version of a "caramelish" treat you can make. I use the word caramelish because when you eat it, you will know it's not real caramel. But it is still very good. It would probably make a great ice cream topping, or maybe a spread on to cookies. I'm sure you can find many uses for it.
Step 1: Items Needed
1 can of sweetened condensed milk
Step 2: Remove Label and Place in to Pot of Boiling Water
I recommend using tongs or some type of tool to put the can in to the boiling water.
Step 3: Prepare a Second Small Pot of Boiling Water
This is just something I do when I have to boil water for a really long time and know that it is going to boil too far before I am done. I get a small pot of water and set it aside. When It looks like I am maybe 6-7 minutes away from needing to add more water to the main pot, I start boiling the little pot, then pour that water in to the main pot.
I don't know how much of a difference it actually makes, but if you pour tap water, even as hot as your sink can provide, you will stop the water in the main pot from boiling for several minutes. When using a smaller pot of water like this, the "down" time of the main pot boiling is less than a minute.
Step 4: Remove Can and Place in to Cool Water
The can will be very hot. Using tongs, or other tool, remove the can from the hot water and place in to a small pot with ice water in it. Let it sit for 10-15 minutes or until can is cool enough to handle.
Step 5: Open the Can
There will some slight pressure inside the can when you open it. Place a paper towel over the can then open.
Depending on how much you cooled the can the caramelish may be pretty loose. That's ok. Once it cools completely it will be like thick caramel topping.