1/2 c. sugar
1/4 c. corn syrup (white)
2 tbsp. water

Mix ingredients in a small saucepan. Cover; heat to rolling boil over medium heat. Uncover; boil rapidly to 242 degrees or firm ball stage. As mixture boils, beat 2 egg whites constantly on high speed until stiff peaks form. Pour hot syrup in slow and steady stream into egg whites, beating constantly on medium speed. Add 1 teaspoon vanilla; beat on high speed until stiff peaks form. Frosts 8 or 9 inch cake (or 9 x 13 inch cake).