1 cup sugar
1 tablespoon butter
1/3 cup warm water
1 can evaporated milk
Cut a banana in half lengthwise. Cut each half into two. Arrange the banana pieces in a shallow pudding bowl (preferably a boat shape bowl).Top with two or three scoops of ice cream. Spoon caramel sauce* over. On each mound of ice cream, place a dollop of whipped cream. Decorate with a cherry or a nut.
To Make Caramel Sauce: Melt sugar and butter over low heat. Keep on stirring until golden brown. Add warm water and keep on stirring until smooth. Add the evaporated milk, and keep on stirring until smooth. Serve hot or cold.