Preheat oven to 350 degrees. Line baking sheet with parchment paper.
Arrange pecans in a single layer on prepared baking sheet. Toast until browned and fragrant, stirring halfway, about 8 minutes. Remove from oven and set aside.
In a small saucepan over low heat, combine the brown sugar, evaporated milk, butter and corn syrup.
Bring to a simmer, whisking constantly and simmer for 3 minutes, until it thickens slightly and coats the back of a spoon.
Stir in the vanilla extract, salt and toasted pecans. The sauce will thicken more as it cools.
Serve praline sauce warm over ice cream, pancakes, cakes or bread pudding!
Refrigerate any leftover pecan praline sauce and heat it in the microwave or on the stovetop before using.