01 - In a medium saucepan over medium heat, combine granulated sugar and water. Stir gently until sugar dissolves. Increase heat to medium-high and cook without stirring until deep amber color forms, about 8 to 10 minutes.
02 - Remove from heat and immediately whisk in unsalted butter, heavy cream, and sea salt. Stir until smooth while mixture bubbles. Reserve 2 tablespoons for garnish; pour remaining caramel into six small serving glasses or ramekins. Allow to cool.
03 - Beat cream cheese until smooth in a mixing bowl. Add powdered sugar and vanilla extract; beat until fluffy. In a separate bowl, whip cold heavy whipping cream to stiff peaks. Gently fold whipped cream into cream cheese mixture until combined and airy.
04 - Once caramel layer has cooled to room temperature, spoon or pipe the vanilla frost evenly over each caramel base.
05 - Refrigerate for at least one hour to allow layers to set firmly.
06 - Drizzle reserved caramel sauce over each serving, garnish with white chocolate shavings if desired. Serve chilled.