In a saucepan over medium heat, combine the sugar and water.
Cook without stirring until it turns a deep amber color.
Quickly pour the caramel into a mold, swirling it to evenly coat the bottom.
Place the mold in the refrigerator to set.
In a bowl, whisk together the eggs, egg yolks, and vanilla extract.
In a separate saucepan, gently warm the milk and condensed milk until heated (do not boil).
Gradually pour the warm milk mixture over the egg mixture while whisking continuously.
Strain the custard mixture through a fine sieve into the prepared mold (this ensures a smooth texture).
Place the mold in a larger baking dish and add hot water to the baking dish, creating a water bath.
Bake at 150°C (302°F) for 45 minutes or until the custard is just set but still slightly jiggly in the center.
Remove from the oven and let it cool to room temperature.
Refrigerate for at least 4 hours or until fully set.
To serve, run a knife around the edge of the mold, place a plate on top, and flip to release the crème caramel.
