Dulce de leche a thick, milk-based caramel sauce . . .

Dulce de leche a thick, milk-based caramel sauce . . .
Dulce de leche is a sweet prepared by slowly heating sweetened milk to create a product that derives its taste from caramelised sugar. Literally translated, it means "candy of milk" or 

"candy [made] of milk", "milk candy", or "milk jam" in the same way that "dulce de frutilla" is strawberry jam. It is popular in South America, notably in Brazil, Argentina and Uruguay. In Chile and Ecuador, it is known as manjar. In Peru, Colombia and Venezuela, it is referred to as manjar blanco or arequipe, depending on regional variations. In Brazil, it is known by its Portuguese name doce de leite. Dulce de Leche is believed to have been created in Argentina in 1829 in Cañuelas, Buenos Aires.
A Mexican version called cajeta is made from goat's milk.
The most basic recipe calls for slowly simmering milk and sugar, stirring almost constantly. Much of the water in the milk evaporates and the mix thickens; the resulting dulce de leche is usually about a sixth of the volume of the milk used.
How to Make Dulce de Leche (Thick Caramel Dessert Sauce)
http://southamericanfood.about.com/od/desserts/ss/DulceLecheStep.htm