Caramel Apple Butter

1 cup granulated sugar
1/2 cup water
8 ounces butter
8 ounces apples, chopped

Place the sugar and water in a thick bottom sauce pot and heat it over a medium heat until the ingredients melt together. Continue heating the mixture as the water evaporates and the remaining sugar begins to caramelize. When it is a deep golden brown color add the remaining ingredients. Stir them frequently and continue cooking until the apples are mushy, about ten minutes. Place the hot mixture in a blender and carefully puree until very smooth. Transfer to a storage container and refrigerate until chilled.