Caramel Cake with Caramel Icing Recipe | The Food Charlatan. Do you have a favorite Caramel Cake recipe? Why not?! It's a classic Southern treat! But instead of a layer cake, I made it into a super easy sheet cake. Less time baking, more time eating, I say! The cake is so moist and full of flavor. Plus, did I mention caramel frosting?! This caramel frosting recipe is thick as fudge! You're going to die! Perfect for Christmas, Easter, Labor Day, summer bbqs, Valentine's Day, really any event!