a small saucepan, heat honey and butter until blended. remove from heat and stir in vanilla. fill cavities of apples evenly with honey mixture. bake at 350 degrees for 45 minutes or until apples are tender.
to prepare caramel sauce: while apples are baking, pour 1 cup of water into heavy saucepan. pour sugar into center of pot, keeping sugar from sides of pan. bring to boil over high heat. continue boiling until syrup is thick and straw-colored, about 15 minutes.
in separate saucepan, heat heavy cream to simmer. remove sugar syrup from heat; slowly whisk hot cream into syrup until smooth. whisk in butter; stir in pecans. to serve, carefully place 