Adapted from Gordon Ramsay's Ultimate Christmas. I opted to focus on the technique of cooking the sugar into caramel before adding the cranberries, rather than all the ingredients (which, frankly, I didn't have). So I went with the "less is more" approach and was very pleased with the results.
1 1/4 cups sugar
1/2 cup water
1 T orange zest
juice from half an orange
1/2 c port
salt and pepper
1. Cook sugar and water without stirring until amber in color. Use a pastry brush dipped in water to paint around the sides of the pan to keep the sugar from burning on the sides.
2. Add cranberries carefully. This will piss off your caramel something fierce, so be prepared for sticky strings of hot sugar when you stir. But fear not.
3. Add orange zest and juice, port, salt and pepper. Stir, stir, stir. The caramel WILL dissolve.
4. Cook for 5-10 minutes and let cool.
5. Great right away, but if you make it the day before the flavors just get better (and you don't have to deal with it while you're making everything else). Keep refrigerated, but bring to room temperature before serving.