Make Caramel Sauce:

1. In a saucepan, combine sugar and water. Stir and cook over medium heat until sugar dissolves.
2. Increase heat and cook until amber colored, swirling pan occasionally.
3. Add butter, stirring gently. Remove from heat and add vanilla, heavy cream, and salt. Stir to combine. Let cool before refrigerating.

Make Fudge:

1. In a microwave-safe bowl, combine chocolate chips, sweetened condensed milk, and butter. Heat in 30-second intervals, stirring until mostly smooth with a few flecks of unmelted chocolate.
2. Add vanilla extract and pecans. Stir to combine.
3. Pour fudge onto a parchment-lined tray and spread to 1-inch thickness.
4. Drizzle with caramel sauce and swirl with a knife.
5. Chill until ready to serve. Slice into squares and store in an airtight container.

Enjoy!