Ok this was made spur of the moment and exact measurements were not foremost in my mind. So live on the edge and see what you can make with it. :)
2 Tbsp Butter, slightly browned in pot at very low heat.
add 1/4 cup sugar and 1 Tbsp Honey
stir until well mixed and thick, add a pinch of salt, a couple more Tbsp Honey and water to thin everything down, we are making a sauce here not candy.
Add a couple Tbsp of milk until you have the desired consistency.
This was truly lovely. I licked my plate and then Indra's too (you snooze, you lose). The honey really added a nice dimension to the flavor and browning the butter slightly deepened the caramel flavor wonderfully.
My first try ended up a burnt mess; I had forgotten the low heat part of working with butter and sugar and it wasn't pretty.