The Best Caramel Cake Ingredients Caramel Sauce 2 cups sugar 2/3 cup butter cut in small cubes 4 tbsp water 1 cup whipping cream Vanilla Cake 1 1/4 cups sifted all purpose flour 1 1/4 cups sifted cake flour 1/2 teaspoon baking soda 2 tsp baking powder 1 teaspoon salt 1/2 cup butter 2