Apricot Caramel Sauce

  1 c  Sugar
      4 c  Water
      1 c  Firmly packed dried
           -apricots; (about 6 ounces)
      2 ts Vanilla

  In a dry heavy saucepan (about 3-quart capacity) cook sugar over
  moderate heat, stirring with a fork until melted and then swirling
  pan, until sugar is a golden caramel. Remove pan from heat and
  carefully add 3 cups water down side of pan (it will bubble up and
  steam). Return pan to heat and simmer, stirring, until caramel is
  dissolved.

  Add apricots and simmer, covered, until soft, about 10 minutes. Cool
  mixture 10 minutes and in a blender puree with remaining 1 cup water
  and vanilla until very smooth. Sauce may be made 3 days ahead and
  chilled, covered. Reheat sauce to warm.