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That's Caramel Bread Pudding you're looking at in this photo. But I'm also going to give you a variation for a lower fat version. For the complete recipe for bread pudding, you'll need to see the prior post on bread pudding.
How to make the caramel:
1 cup sugar
1/3 cup water
1/4 teaspoon white vinegar
1/4 cup additional water
Place the sugar, 1/3 cup water and the vinegar in a stainless steel pot (if you use a dark or nonstick pot, you won't be able to tell when the caramel is the right color). Heat the mixture on medium to medium-low heat, stirring constantly until the sugar dissolves. Brush down any sugar crystals on the sides of the pot with a brush dipped in water. Increase the temperature to medium-high to bring the mixture to a boil.
(You don't need to use a pot this large - but it's the only stainless steel one that I own). Once the mixture starts to boil, DO NOT STIR! Swirl the pot, occasionally, so that no spot cooks before another, and cook until the mixture turns golden brown.
Tip the pan away from you, so you don't get burned, and pour in the remaining 1/4 cup of water. It will bubble up and steam furiously. Stir until the caramel is smooth.
Pour the mixture into the baking pan ( I prefer not to use glass, because I am always wary about pouring such hot liquid into glass, even if it is Pyrex).
Let the caramel cool briefly and then set it in the refrigerator or freezer until it's hard (15 mnutes if frozen and up to 1 hour if refrigerated).
Make the bread pudding as in the last post, or using the lowfat directions below. You can eat the pudding 1 hour after it is made and the caramel will be syrupy and the pudding soft, or you can refrigerate it for at least 6 hours. At that point the caramel will be a bit gooey and the pudding firmer (as in the photo above) After 2 days in the refrigerator, you'll have both some gooey caramel, some melted caramel sauce and a firm pudding - my favorite. You can heat it slightly or serve it cold.
Lower fat Bread Pudding with Lowfat Custard Sauce 9 ounces challah, eggy white bread or lowfat Italian bread (I've used Arnold's) 1/3 cup raisins 3 large eggs 2 large egg whites 1/2 cup sugar 1 teaspoon vanilla extract 1 teaspoon cinnamon 2-1/4 cups 2% milk (using skim or 1% results in a very soft-set pudding)
Make the pudding according to the directions in the post on Raisin Bread Pudding Lowfat Custard Sauce 2 large eggs, at room temperature 1/4 powdered cup sugar 1 teaspoon cornstarch
2 cups 1% lowfat milk 1/4 cup granulated sugar 1/2 large vanilla bean, split in half, lengthwise 1 tablespoon rum or other liqueur, optional
In a medium bowl, whisk together the eggs, powdered sugar and cornstarch. Place the milk, granulated sugar, vanilla bean and rum in a medium pot. Bring the mixture to a simmer. Little by little, whisk the hot milk mixture into the egg mixture, adding more and more as the eggs get warmed.
Pour the mixture back into the pot. Heat on medium, stirring contantly, until the mixture comes to a simmer. Lower the heat and simmer for 1 minute. Pour the mixture into a container. Scrape the vanilla seeds into the custard and discard the pod. Let it cool briefly, and then cover and store in the refrigerator for up to a week.