1/4 Cup Butter
1 Cup Brown Sugar
1/2 Cup Light Corn Syrup
2/3 Cup Sweetened Condensed Milk (1/2 of a 15 oz can)
1/2 Teaspoon Vanilla
2 batches of popped corn, I use  my air popper 
Combine butter, brown sugar, and corn syrup.  Bring to a boil on medium heat.  Stir in milk.  Simmer to a soft ball (234). Remove from heat and add vanilla.  Pour over popped corn.  Stir to mix well.
This is a soft, chewy caramel.
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