Prepare a caramel by adding the ¼ cup of water to ¾ cups of sugar in a small saucepan over medium to low heat.
Stir while cooking until the sugar starts melting.
Let it simmer.
Use a pastry brush dipped in water to wash the sides of the pan free of granular sugar.
When sugar starts to thicken and turn brown remove from heat and add 2 cubes of ice to stop the cooking process, being very careful not to get burned with any splattering that may occur.
Coat a warm baking dish or round mold by pouring the caramel and swirl it around the sides and bottom.
Put the coated mold aside( by the way the mold should be 9 inches in diameter).