Pre heat oven to 325 degrees.
Place water and sugar into a heavy wide bottomed saucepan, cover. Steam will build to prevent crystals from forming and create more moisture for the caramel.
Swirl the pan over medium heat until the sugar is dissolved- about 3 minutes. Uncover the pan and continue swirling until the mixture is boiling.
Take the pan on and off the heat to control heat and continue swirling- not "stiring" ever- until the sugar becomes a golden amber color.
Depending on you pan, this should take a total of 8 minutes to develop the amber color.
Quickly pour into ramekins coating the bottom and the sides. The caramel is like molten lava so work quickly- but carefully.
If you smell a burnt smell, the caramel is problably over done.
You do not want the color to be too dark- see my photos for a color guide.
Set the caramel lined ramekins onto a baking sheet lined with a soaking wet dish towel. The towel will not burn while baking. The towel helps keep the ramekins in place and also creates a nest of steam once the baking sheet is filled with water filled the water bath.
In a large bowl, whisk the eggs and yolk, sugar, pumpkin, pumpkin pie spice and pinch of salt. Set aside.
Heat milk in the same saucepan until steaming.
Slowly add the milk, a few ladles at a time, to temper the egg mixture.
Mix the remaining hot milk in until the sugar dissolves. Now strain the egg and milk mixture (custard) through a fine sieve into a large measuring cup with a pouring lip. Stir in vanilla. Whisk to fully combine the pumpkin.
Carefully pour the custard into the caramel lined ramekins.
Pour warm water into the rimmed sheet pan with ramekins & towel until the water is just below the rim. Carefully place rimmed baking sheet into the pre- heated oven and bake at 325 for 40-50 minutes minutes or until the center is set.
Cool ramekins on a wire rack then place inthe fridge for at least 4 hours or overnight.
To unmold and serve: Place chilled ramekins with custard into a shallow dish filled with hot water just deep enough to go halfway up the ramekin. This will loosen the caramel. Run a knife around the inside edge of each ramekin to loosen the caramel. Place a dessert plate on top of the ramekins, then quickly invert. The caramel will puddle around the custard.
Serve immediately .