In an aluminum molder, boil sugar & water for a few minutes in a medium heat until the sugar caramelized. Spread the caramel mixture on the bottom of the molder. Set aside.
2Pour condensed milk and evaporated milk in a pot (preferably cast iron to avoid scorching). Add vanilla. Stir for a few minutes.
3In a separate pan, combine water & the jelly powder mix. Stir until the mixture dissolved. Boil. Keep on stirring until the mixture becomes very fine. Strain and pour into the boiling milk-vanilla mixture. Stir constantly for a few minutes. Remove from heat.
4Gently pour the mixture on top of the caramel on the aluminum molder. Fill the molder to about 1 to 1 1/4 inch thick. Refrigerate for 30 minutes. Invert & serve.