This comment suggests something about the true definition of "caramel":
Actually, caramel is not made with "milk and/or cream, butter, and sometimes vanilla". While US recipes are fond of adding these things to caramel, they are not an essential part of the definition.
I am very interested in what a true caramel recipe and production is. What actually is the definition?
Also, I want to toy around with butterscotch, caramel and toffee - I like them all. Is there something along this line that uses molasses, even if it's not caramel per se?