In a heavy saucepan set over medium-high heat, stir together sugar and water. Without additional stirring, bring mixture to a boil. Use a wet pastry brush to wash down any sugar crystals that form on the sides of the pan. When sugar becomes a deep golden brown and wisps of smoke just start to form, remove pan from heat.
Once off the heat, carefully pour in the cream, which will cause the caramel to bubble. Stir to combine. If the caramel seizes up and hardens with the addition of the cold cream, then put the pan back over low heat and stir until the caramel is liquid again. Whisk in the miso. Allow to cool slightly before pouring into a lidded container. Store in the refrigerator.
Remelt the sauce by putting some in a ramekin and microwaving it on high for 30 second intervals until hot and liquid-y. Serve over ice cream, pound cake, or just eat it cold out of the jar with a spoon. *from http://food52.com/recipes/18618-miso-caramel