Crema Volteada

For the caramel, place the sugar and water in a pot. Let it cook without stirring. Watch it carefully so it doesn't burn.

In a large bowl, beat the 12 eggs, then add the condensed milk and evaporated milk. Beat well, then strain at least 10 times through fine strainers. Add the vanilla.

Once the caramel is ready, pour it into a tube mold. Using gloves, coat the edges and bottom of the mold thoroughly with caramel (don't bother with the tube). Pour in the mixture.

In a deep container, prepare a water bath. Place kitchen towels at the bottom so the water doesn't boil — the water in a water bath should never boil. Pour in cold water and slowly lower the mold in. It's a tub of cold or warm water, baked until a toothpick comes out clean. Bake at 200°F (100°C), very low. Add cold water whenever it looks like it wants to boil.

Remove from the oven and refrigerate for at least 12 hours (overnight). Unmold by running a thin knife around all the edges.