In a mixing bowl, blend doughnut ingredients until well-blended (this will be a slightly chunky batter). Fill the bottom half of the doughnut maker until level. Lower top half and cook for approximately 3-4 minutes until firm and slightly browned. Let cool on a cooling rack. Continue to cook until batter is gone. It makes about 20 mini doughnuts.
For the caramel: Place ingredients in a medium saucepan. Heat to a boiling for 4 minutes. Continue to cook for approximately 30 minutes on low, stirring often. The sauce will darken and thicken. Cook until it thickly coats your spoon.
Dip the tops of the doughnuts in the sauce and place on a cooling rack. Refrigerate.
For the extra caramel sauce (I don’t like to waste): I lined a baking dish with parchment paper and then poured in the caramel sauce (with added pecans). Let cool and refrigerate and cut into squares for a “praline” experience! :-)