Soak tapioca pearls overnight in a bowl of water.
In a double broiler, or two different sized sauce pans like I did in the photo above.
Add milk, caramel, vanilla, and salt to double broiler and heat until warm.
Add tapioca pearls and heat until and tiny bubbles appear.
Do not boil.
In a small bowl, add egg yolks and sugar.
Use a soup ladle to scoop up a bit of the hot tapioca mixture.
Add very slowly to the egg mixture while whisking quickly to blend it.
Add a little more tapioca mixture and repeat twice more.
Pour egg mixture into tapioca mixture and whisk quickly to blend it all in.
Cook on low, uncovered for 15 minutes.
Serve warm or cold.