In a high-sided saucepan, pour the bourbon and lemon juice. Gently pour the sugar into the center of the pan, allowing it to spread towards the edges--do not stir.
Cook over medium heat for 4-6 minutes, swirling the pan occasionally. Keep a close eye--the sugar can quickly burn as it changes color. When it is a dark amber, remove from heat.
Immediately add the cream--don't be alarmed as the caramel seizes and hisses. Stirring with a wooden spoon, return the pan to low heat and cook until the sauce thickens (5-10 minutes).
Add salt and vanilla, stir to combine. Add pecans.
Store sauce in an airtight container in the refrigerator. Sauce will keep for up to 1 month.
Recipe by Laughing Over Spilled Milk at https://www.laughingoverspilledmilk.com/bourbon-pecan-caramel-sauce/