Prepare a boiling water bath canner and four half pint jars.
Wash the apples. Quarter and core them. Place them in a saucepan with the water and simmer for 20-25 minutes, until the apples are quite soft.
Pour the cooked apples into a blender carafe and add the cinnamon. Puree until very, very smooth. You should have about three cups of apple puree.
Combine sugar with water in a small sauce pan. Place over medium-high heat and simmer for 10-15 minutes, until the sugar reaches 285°F and darkens to the color of a tarnished copper penny.
Do not stir the cooking syrup, instead hold the handle of the pot and gently swirl it to move things around.
Once the syrup has reached 285°F, remove the pot from the heat and stir in the apple puree. It will bubble, spatter, and appear to seize up, so take care.
Stir puree into the sugar until it is a smooth sauce and return the pot to the heat. Continue stirring and cooking, until the sauce reaches 218°F.
Remove caramel from heat and funnel into prepared jars, leaving 1/2 inch headspace. Wipe rims, apply lids and rings and process in a boiling water bath canner for 10 minutes.