In a small saucepan over medium-low heat, melt the butter. Turn the heat to medium-high and boil until the butter is frothy, about 3 minutes (longer if butter is chilled or frozen). Turn the heat to low and simmer, without stirring, until the milk solids have settled to the bottom of the pan, are dark golden brown, and smell slightly toasted, another 15 to 18 minutes, depending on how dark you like your toast (I like mine on the darker side). Once the milk solids start to caramelize, it goes quickly, so don’t walk away. Remove from the heat once the butter is a deep amber color. Strain through a fine-mesh sieve, if desired.