First preheat the oven to 350 °F (175° C) and have your ramekins (molds) ready. Depending on the size of the ramekins you may need 6 to 8 of them.
To start the caramel, place the sugar into the pot and add enough water just to cover. The more water that is added, the longer the sugar will take to caramelize. Bring to a boil over medium heat. Do not stir. Brush the sides of the pot with a clean pastry brush dipped in water to prevent any sugar crystals from crystallizing, if needed.
As soon as the sugar starts to color, gently swirl the pan to ensure the sugar is caramelizing evenly. This should take about 10 minutes or so. Once the desired caramel color has been achieved, quickly pour a bit of the caramel into the bottom of each ramekin.
Note: Until you get used to making caramel, you can remove the pot from the burner just before you think it is ready and then just gently swirl the pot around. The residual heat from the pot will continue to darken the sugar. This just sort of slows down the process a tiny bit so you don't happen to overcook the sugar.
The caramel will be VERY hot, so DO NOT touch it. As it sits, it will harden. This is what is supposed to happen.
Note: To clean the caramel from the pot (and the ramekins later), fill the pot with water and bring to a simmer. The caramel will just melt away into the hot water.