Make the Caramel: In a small saucepan, combine ⅓cup sugar and 1tbsp water. On medium heat, melt the sugar while stirring. Then let the sugar caramelize until deep amber color, don’t stir it — twirl the pan to melt evenly. Once it reaches the desired color, take it off the heat and cool for 1~2 minutes. Then bring the pan to the sink and add 3~4tbsp of water. Hot caramel will gurgle violently, so make sure you keep your hands at a safe distance. Add water slowly, swirling the pan. Caramel is now ready. Set aside to cool.