Popular throughout Latin America, this type of dessert is prepared in many ways and has many names, such as "Manjar Blanco", "Dulce de Leche" and "Leche Quemada".
1. In a 2-quart saucepan, bring the condensed milk, fresh milk and soda just to the boil over high heat, stirring constantly. Immediately remove the pan from the heat.
2. Combine the sugar and water in a heavy 4- to 5-quart saucepan and cook them over low heat, stirring constantly, until the sugar dissolves. Pour in the hot milk and stir well.
3. Cook over low heat for 1 hour and 15 minutes, maintaining a low simmer and stirring occasionally. Watch carefully for any sign of burning and regulate the heat accordingly. The mixture will become an amber-colored pudding.
4. Serve the pudding at room temperature, or refrigerate it and serve it chilled.
