Make the caramel sauce by melting butter and sugar in a small saucepan over medium heat, stirring frequently. Once butter has melted, cook for an additional 4-5 minutes, stirring constantly until dark brown and bubbling.

Combine milk, 2 tablespoons of caramel sauce, and vanilla extract in a small saucepan over low heat. Bring to a simmer, then whisk until frothy.

Add espresso or strong coffee to a mug, then pour milk mixture over the top. Top with whipped cream an extra drizzle of caramel sauce.