Preheat your oven to 350°F. Line a baking sheet with parchment paper.
Arrange the saltine crackers in a single layer on the prepared baking sheet.
In a medium saucepan over medium heat, melt the butter. Once melted, stir in the brown sugar and bring to a boil, stirring constantly. Allow the mixture to boil for 3 minutes without stirring.
Remove the saucepan from heat and stir in the vanilla extract. Carefully pour the hot mixture evenly over the saltine crackers, making sure to cover them as much as possible.
Bake in the preheated oven for 5-7 minutes, or until the edges are bubbly. Keep a close eye to prevent burning.
While the crackers are baking, combine the granulated sugar and ground cinnamon in a small bowl.
Remove the baking sheet from the oven and immediately sprinkle the cinnamon-sugar mixture over the hot caramel-covered crackers.
Allow the crackers to cool completely on the baking sheet, then break them into pieces. Store in an airtight container.