1/2 c. sugar, caramelized in a little iron skillet
2 1/2 c. sugar
1 sm. can evaporated milk, plus can rinsed with 1/4 c. water
1 stick butter
1 egg, beaten

Place 1/2 cup sugar in an iron skillet and begin melting over medium to medium high heat. Place other ingredients in a heavy aluminum pan (I use a Presto cooker) and begin cooking on medium heat. Stir both pans frequently. When sugar in skillet has melted to a caramel color, add it to the heavy saucepan mixture. Cook to the soft ball test in cold water. Remove from heat and cool for 5 minutes. Beat until a creamy stage is reached. Spread on cake.