PREPARATION:

1. Line 8-inch square baking pan with foil, extending edges over sides of pan. Lightly grease foil; sprinkle almonds over bottom of pan, if desired.
2. Melt butter in heavy 2-quart saucepan over low heat. Add sweetened condensed milk, sugar and corn syrup. Stir over low heat until sugar is dissolved and mixture comes to a boil.
3. Carefully clip candy thermometer to side of pan. (Do not let bulb touch bottom of pan.) Cook over low heat about 30 minutes or until thermometer registers 240°F (soft-ball stage), stirring occasionally. Immediately remove from heat and stir in vanilla. Pour mixture into prepared pan. Cool completely.
4. Using foil, lift caramels out of pan; remove foil. Place caramels on cutting board; cut into 1-inch squares with sharp knife. Wrap each square in plastic wrap. Store in airtight container.