Caramel syrup is thin and runny (like maple syrup), translucent and contains little to no cream. Caramel sauce is usually thick and gooey, opaque and contains cream and butter. I took a caramel sauce recipe, and instead of adding cream at the required stage, I substituted water. The result was a more pourable and more easily mixable in liquids not piping hot. While the flavor of the syrup is still quite strong and heavy on the stomach, the caramel sauce can be eaten by the spoonful on it’s own.