Caramel

Mix the heavy cream, sugar, food coloring, and butter or margarine in a medium saucepan

Bring to a boil, stirring constantly, until it reaches the desired consistency

Then, remove from heat, allowing some of the mixture to drop into cold water, forming a firm ball

Remove from heat

Add vanilla extract and pour into an 8x8-inch greased pan

Let cool until set

Invert onto a wire rack

Cut into squares with a sharp knife

If desired, place a pecan half on top of each caramel square

Let cool and wrap in plastic wrap

Doubles as a gift for up to 5 days.