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Caramel Bear was a Teddy Bear character and Toy Franchise made by Sanrio in 2002 for a campaign that was on the Japanese Sanrio Wave Website.

The Caramel Bear was made as a merchandising campaign for the 100th Anniversary of Teddy Bears, and so, this caramel-colored bear with a comforting vibe and an endearing smile was chosen for the campaign. Most of the Caramel Bear plushies were made out of Mohair fabric and had German glass eyes to give a cute appearance. The Caramel Bear campaign website launched on April 14, 2002.

In order to separate themselves from other teddy bears, the creator Mii Shimizu suggested the idea of the different bears being made for different months; but only certain months got made into bears out of the entire Caramel Bear lifespan. There was Stephanie the May Bear, Cecil the June Bear, Tom the July Bear, Nancy the August Bear, Marie the September Bear, Cynthia the October Bear, Steve the November Bear, and last but not least Angel the December Bear. All of these Bears were sold though Sanrio Character Planet, a store for novelty goods. The Caramel Bear page rotated until June 25th, 2003, where only Stephanie would show up: but surprisingly Character Planet stopped selling bears earlier on April 17, 2003, before the shop itself closed on April 9, 2004.

On the website, there was a bundle the contained the First Caramel Bear, A Picture Book called, Mai-Chan's Caramel Bear, and a CD that had the songs "WALK WITH YOU", "YELL TO YOU", and "ON THE BACK STREET" in full orchestra. This bundle costed ¥5,000 and was sold through Sanrio Questina, Sanrio's attempt to dive into adult audiences with furniture, flowers, and other special occasional goods. Another bundle was sold and costed ¥3,800 and contained the second book to the picture book Mai-chan's Caramel Bear, A pink bear named Strawberry, and A CD that contained the songs "I'LL BE THERE", "LOVE GENERATION", and "Beyond the River of Time." Limited amounts of each Bundle were sold.

Mii Shimizu seemingly made these Teddy Bears ever since she was young, as evidenced by the picture book which could be based on her, and she often made these bears as personal gifts to her friends. According to her, she gotten an overwhelming response to making the bears into a real product.

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