Place ½ cup water and 2 cinnamon sticks in a saucepan. Bring to a boil and simmer for 10 minutes. Strain out the cinnamon sticks and keep the cinnamon-infused water warm.

Place the remaining ¼ cup water, corn syrup and sugar into a saucepan. Heat the mixture over low heat, stirring until the sugar is completely dissolved.

Increase the heat to medium-high and boil covered for 2 minutes.

Uncover and continue to boil, stirring constantly until the mixture turns a light amber color. Do not cook too long or the caramel syrup will burn.

Remove from the pan from the heat. Carefully pour in the cinnamon-infused water, being careful to stand back as the caramel mixture will steam and bubble rapidly when you add the infused water. (You might want to place the pan in the sink for this step, to avoid any spills.)

Once the steam and bubbles have settled down, add the vanilla and a pinch of salt. Stir gently to mix. Allow to cool and transfer to a glass jar or bottle. Store in the refrigerator for up to six months.