I followed a recipe that basically said gently heat sugar in a saucepan with a little water until it "caramelises". This did result in a sort of liquid sugar (although it was still a bit 'gritty') but as soon as it cooled it simply set solid again and was just a block of sugar! I wanted something to pour over fruit and icecream like the stuff you can buy in bottles.
I can't remember the measurements so you'll have to play it by ear until it looks/tastes right, but I used to make a toffee sauce for pouring over ice cream that was like your recipe but then add single cream, a small bit at a time, until thick and golden brown. It's heavenly and all our diners used to mad over it not realising how simple it was to make! You can store it in the fridge and then heat a little at a time in the microwave as and when you need it.
I believe the recipe you followed was simply for a caramel sugar and it does set once cool. I have never tried it as I believe it is also easy to burn it and then it goes very bitter!
Jiggy gives a nice easy answer to get a good sauce and one that I also follow is:
2oz soft dark brown sugar, 4 tbsp golden syrup and 4 oz cream. Simply heat all ingredients together until melted and smooth. Simmer for a couple of minutes and then it is ready to use!
The safest way to make any sauce that has a penchant to stick, is to put the mixture in a bowl and put that into the pan of hot water. It acts just like a bain-marie.
I make a caramel sauce using butter, brown sugar and double cream, gently heated together in a pan. I never measure anything, it always seems to work. This is what I use to top sticky toffee pudding