Add sugar, lemon juice, and water to a medium saucepan and stir to combine before turning on the heat.

Place over medium heat and stir continuously until the sugar dissolves and the mixture begins to bubble.

Reduce to medium-low heat and simmer, stirring often, until the mixture turns a deep amber color similar to honey.

Watch closely as it thickens; it should coat the spoon and drip slowly in a ribbon-like stream.

Remove from heat immediately once it reaches a caramel shade to prevent burning.

Let cool for 15–20 minutes until warm but safe to touch; it should be thick and stretchy, not runny.

Transfer to a heatproof glass jar and allow it to cool further if needed before use.