Step 1 - In a small saucepan add the heavy cream and heat on medium low, you just want to warm this NOT boil.
Step 2 - In a second small saucepan add the sugar and water, turn on medium heat and bring the mixture to a boil without stirring.
Step 3 - Cover the pan and continue cooking for about 2 minutes, remove the cover and continue cooking (do not stir) until the caramel becomes amber in color
Step 4 - Gradually whisk in the warm heavy cream and mix until it becomes smooth
Step 5 - Remove the pan from the heat and whisk in the peanut butter, corn syrup and vanilla until it's well combined. Transfer to a Mason jar and store in the refrigerator up to a week. Enjoy!