Blend together the bread dip ingredients and set aside.
To make the caramel: Combine sugar and water in a heavy-bottomed pot and bring to a boil over medium-high heat. Once it starts to boil, do not stir. Use a wet pastry brush to wipe down any bits of sugar that spit up on the sides of the pot. This will help avoid crystallization of sugar. Once sugar has reached a deep amber colour, remove from heat and immediately whisk in butter. It will produce a lot of steam, so lean away. Once butter is incorporated, mix cream and rum together and whisk into sugar mixture. Allow to cool.
Dip bread in egg mixture and let soak while you heat a non-stick pan over medium heat. Melt a small amount of butter and start frying dipped bread, flipping to get a golden crust on both sides. When done, the centre will start to puff slightly and should not ooze any egg mixture when gently pushed. Serve immediately with caramel rum sauce.
Yield: 6 servings