In a saucepan, combine the sugar and water, and bring to a boil, stirring often. Cook, stirring occasionally, until the mixture is a deep nutty-brown color and the consistency of thin syrup, for about 10 to 15 minutes. Turn off the heat.
Stir in the cream, turn the heat back on to high, and boil the sauce for about 2 minutes. Remove from the heat. Use immediately.
Yield: about 3/4 cup