Heat half the oil in a frying pan to a medium heat. Scoop spoonfuls (not more than 4 at a time) in the pan. When it is cooked halfway through, turn it over.
When golden brown, place on kitchen paper to remove excess oil. Place in an oven dish. Repeat until batter is finished. Replenish oil if needed.
In a saucepan, heat the butter and add the sugar and vanilla. Cook on medium heat until a thick sauce is formed.
Pour the caramel sauce over the fritters. Place in a medium preheated oven for 10 minutes before serving.