Using a large, thick bottomed, saucepan over medium heat add the butter, sugar, and vanilla. Stir until the butter has melted and all of the ingredients are combined.
Insert a candy thermometer to the bottom of the mixture. Stir constantly until the thermometer reaches 285°F. The candy will become a golden brown color. This will take about 15 minutes.
Once the toffee has reached a golden brown color and is 285°F pour the entire pan into the parchment lined sheet.
Let stand for a few minutes to set and cool just a bit.
Cut the toffee into squares. Disneyland cuts their toffee 4 inches x 4 inches. Using a plastic knife helps and be sure that you cut through the entire piece of toffee.
Allow the toffee to set completely. This will take about 20 minutes at room temperature, or you can place the pan in the fridge.
If you notice any excess oil/butter appear on the toffee, just use a paper towel or napkin to blot it off. Place the individual squares on a separate piece of parchment paper.
In a small saucepan, over low heat, melt the chocolate wafers until smooth.
Hold each piece of toffee by the corner over the pot of chocolate. Use a spoon to drizzle chocolate over one side of the toffee or you can dip the toffee into the chocolate coating all sides. Wipe away excess chocolate.
Now hold the toffee over the cinnamon sugar bowl. Sprinkle the sugar mixture over the top of the toffee. It will stick right the the white chocolate.
Place onto a piece of parchment paper to cool and set.
Once set, you can place them into a pretty package or just get right to eating them.