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Make the homemade caramel and set aside. It will thicken as it cools.
Make the cupcake batter and bake for 15-17 minutes at 350F.
While the cupcakes are baking and cooling, make the caramel buttercream.
Once the cupcakes are cool, frost with the buttercream, and drizzle more caramel on top. Store in an airtight container.