Place the sugar and water in a sauce pan combine. On medium heat warm the mixture up until the sugar is completely dissolved in the water, do not stir. Bring the heat up to medium high and continue to cook. Once the syrup goes through the different candy stages and reaches a temperature of about 320º it will become amber in color.
Pour enough into the bottom of the souffle pan to cover and allow to harden and cool.
Place the remainder of the syrup back on the oven and add a little water at a time ( Probably no more than a 1/3 of a cup) stirring until you have a completely melted and slightly thick syrup.
Place into a bowl and cool either in an ice bath or in the refrigerator. Just before serving add the lemon juice and cognac or bourbon if you want.
Place the 4 eggs and the yolk into a bowl with the vanilla and sugar and stir to combine. Add the milk and whisk everything well.
Strain into the souffle pan with the harden syrup on the bottom.
Place the pan into a water bath that comes at least ½ way up the custard, and place into the center of the preheated oven and bake for 50 -60 minutes until the custard is set. If you use a container that is close to the souffle pan on all sides it is possible that during the cooking process the water will boil. This will result in air bubbles being formed and forced to the sides of the custard. Although it doesn't affect the taste, for a smoother custard use a larger pan.
Remove the pan from the oven and set on a wire rack and allow to cool completely.
Once the crème caramel is completely cooled use a thin knife long enough to reach the bottom of the pan and placing it straight up and down against the inside of the pan rotate the pan, not the knife, 360º to loosen the sides of the custard.
Invert onto a flat plate large enough to hold the dessert .
If you made the thicker caramel sauce, siphon some of the looser sauce around the crème caramel, add it to the sauce mix well and spoon over the top.