For the Salted Caramel, place cream, butter and salt in small saucepan. Cook and stir on medium heat until butter is melted. Remove saucepan from heat and keep warm.
Place sugar and water in medium saucepan. Cook and stir on medium-high heat until sugar is dissolved. Cook without stirring until mixture turns a light amber color, about 5 minutes. Remove from heat. Carefully stir in cream mixture until blended. (Mixture will be bubbly.) Let stand 5 minutes. Stir in Vanilla Bean Paste. Cool completely.
For the Ice Cream, beat cream in medium bowl with electric mixer on high speed until soft peaks form. (If using a freestanding mixer, use wire whisk attachment.) Add sweetened condensed milk and Vanilla Bean Paste. Beat on high speed until medium peaks form.
Pour half of the ice cream mixture into freezer-safe resealable plastic container. Drizzle with half of the salted caramel. Repeat with remaining ice cream mixture and caramel. Run a knife through the ice cream mixture to swirl caramel. Cover and freeze at least 4 hours or until firm. Garnish with chopped nuts and chocolate drizzle, if desired.