Step 1: Prepare a large baking sheet by lightly greasing it with butter or cooking spray. Set aside.

Step 2: In a medium-sized saucepan, whisk together the sugar and cornstarch until well combined.

Step 3: Add the corn syrup, water, butter, and salt to the saucepan. Stir over medium heat until the mixture comes to a boil.

Step 4: Insert a candy thermometer into the mixture and continue cooking, without stirring, until it reaches 255°F (hard-ball stage). This ensures the proper consistency for stretching the taffy.

Step 5: Remove the saucepan from heat and immediately stir in the vanilla extract (or your choice of flavoring) and food coloring if using. Be cautious, as the mixture will be extremely hot.

Step 6: Pour the hot taffy onto the prepared baking sheet and allow it to cool until it is warm to the touch but no longer too hot to handle.

Step 7: Once cooled enough, grease your hands lightly with butter and begin pulling the taffy by stretching and folding it repeatedly. Continue this process for about 10-15 minutes until the taffy becomes lighter in color and firm yet pliable.

Step 8: Roll the taffy into long ropes and cut it into bite-sized pieces using buttered scissors or a knife.

Step 9: Wrap each piece individually in wax paper, twisting the ends to secure. Store in an airtight container