1½ cups sugar
2 tablespoons corn syrup
½ cup butter
1 teaspoon baking soda
2 teaspoons vanilla extract
In a 5 quart saucepan (trust me, you need a big one), bring the first four ingredients to a boil, stirring constantly.
Remove the pan from the heat and whisk in the baking soda and vanilla extract. At this point, you will get to see a very cool chemical reaction, and the mixture will bubble up and increase in size. You will be happy you listened to me and used a large pot. Stir well until the bubbling stops and the mixture subsides.
Serve with pancakes, waffles, or Dutch Babies. Store leftover syrup in a tightly closed container in the fridge.