Make a slurry by combining white miso with a splash of water. Set aside.
Combine sugar and water in a saucepan. Heat to a simmer, stirring occasionally for about 5 minutes until dissolved (Do not stir once dissolved).
Increase heat to bring it to a boil. Swirl the pan often to allow even heating and prevent burning. Cook for about 5 min until the sauce turns into a copper color.
Turn off the heat and place a strainer over the pot. Steadily swirl in cream, butter, and miso in this order.
Let it cool for a few minutes, then pour the caramel out into a heat safe jar. Do not scrape the sides down.