Sure...you're going to say I've completely lost it...but the best caramel you can make for dipping apple slices is:

Take one can of sweetened condensed milk...don't open it...remove the paper wrapper. Put it in your crock pot and cover it with water at least 1" over the top of the can and cook it on low for 12 hours. Open...best apple dipping caramel!

My sister and I tried this over the weekend. I have a feeling that I did not have the crock pot hot enough. After the required 12 hours we let the can cool and opened it this morning. It looked just like sweetened condensed milk. Nothing had changed. One of the guys here at work tried it also and said it came out just like the caramel that you buy. So I know it was me. My crock pot has numbers 1 thru 5 and I set it on 2. I will try again and set it warmer.