There's that saying the best things in life are free, which is true. But guess what? The second-best things in life are expensive. Like espresso machines and daily trips to Starbucks for caramel sauce iced lattes. And there's also that saying work with whatchu got, which is my mantra when it comes to iced coffee.
So let's make it easy and let's make it cheap: brew a small pot of coffee, but use almost twice as much the amount of grounds as normal. Put a spoonful of caramel sauce in the bottom--I used Trader Joe's 'fleur de sel' caramel sauce. Pour half the hot coffee over the sauce, and mix. Save the other half in the fridge, for tomorrow. Fill the glass the rest of the way with milk, then add ice cubes. Sip slow, preferably in the sun.
note: this recipe would work perfectly with soy or almond milk as well!