Combine 2 cups granulated sugar, 1 1/2 cups light corn syrup and 1 cup water in a large saucepan over medium heat. Stir until the sugar dissolves, then continue to cook the syrup without stirring until it reaches soft-crack stage. Remove from heat, combine flavor extracts and food coloring, and let the syrup cool on a cold, oiled surface. Once cool, manually pull and stretch the taffy until it is stiff and forms a long, thin rope.
Many pulled taffy recipes call for additional ingredients, such as molasses, vinegar, salted butter, baking soda and salt. However, the basic recipe consists only of sugar, corn syrup and water.
You can adjust the quantity of flavor extracts and food coloring to your tastes. If you make multiple flavors of pulled taffy, remember to divide the syrup into multiple batches prior to adding any flavor or coloring. Place any syrup that is not immediately to be pulled onto an oiled baking sheet in the oven, heated to 200 degrees. This helps the syrup remain warm and pliable.
For safety, prior to pulling the taffy, wait until it has cooled and put on protective gloves or oil your hands to ensure the sugar does not burn your skin.