Fill a 9 by 13 inch pan half way with water.
Pour milk in a 8 by 8 inch pan (or somewhere close to that size...)
Cover small pan with foil and place in the large pan.
Bake at 425°F for an hour.
Caramel will cling to a spoon and be slightly thick when done. Remove from oven CAREFULLY. The water will be hot!
Serve with apples, over ice cream, etc.