As you can see from the picture, this is fantastic with fruit and chocolate. I put it in some whipped cream (yum!), and it would be delicious with ice cream, in frosting, in a cupcake, brownies...see the endless possibilities? I'm off to make another batch!
Homemade Dulce de Leche
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Makes about 1 1/2 cups
1 can sweetened condensed milk, label removed
If your can of sweetened condensed milk (not evaporated milk!) has a tab, pop that just a bit. If it doesn't, use your can opener to puncture the top of the can twice. If you don't give a spot for the pressure to release, it could explode. Not cool.
Place the slightly opened can in a medium saucepan, top side up, and fill with water so that it's covered 3/4 of the way. Bring to a boil, reduce to a simmer, and cook for three hours. Check back every 30 minutes, and if the water is lower than half the can's height, add more. A little of the milk will seep out, but you'll only lose a couple of tablespoons. After three hours, carefully remove the can from the pan with tongs or a pot holder and let cool. Open, stir, and store any leftovers in a sealed container in the refrigerator.
Source: Confections of a Foodie Bride