In a medium sauce pan combine water and sugar and stir with a wooden spoon over high heat. Cook until sugar is the same color of the Whisky. Remove from heat and add Whisky, being cautious of potential splattering. Stir back over heat until fluid and liquid. Remove from heat and swirl in butter until velvety and smooth. Keep Whisky warm until use, or leave at room temperature and reheat in microwave for 30 seconds.

** Be very careful when caramel is hot**