Caramel syrup is a thin, pourable form of caramelized sugar, used to sweeten and flavor drinks and desserts. It is thinner than caramel sauce, which typically has cream or butter added for a thicker, richer body.
Caramel syrup is made from cane sugar or corn syrup heated through caramelization until it develops a deep, slightly nutty flavor; the longer it cooks, the darker and more intensely flavored it becomes, up to the point of turning bitter and burnt.
It is most commonly used to flavor coffee drinks, milkshakes, and cocktails, and to sweeten baked goods. It pairs well with sea salt, coffee, chocolate, and nuts.