Mix sugar, corn syrup and water in 1-quart saucepan. Cover and heat to rolling boil over medium heat. Uncover and cook, without stirring, to 242 degrees on candy thermometer or until small amount of mixture dropped into very cold water forms a ball that flattens when removed from water. To get an accurate temperature reading it may be necessary to tilt the saucepan slightly. It takes 4 to 8 minutes for the syrup to reach 242 degrees.While mixture boils, beat egg whites in medium bowl just until stiff peaks form. Pour hot syrup very slowly in thin stream into egg whites, beating constantly on medium speed. Add vanilla. Beat on high speed about 10 minutes until stiff peaks form. Preparing this type of frosting on a humid day may require a longer beating time. Frosts a 13 X 9-inch cake or fills and frosts two 8- or 9-inch cake layers. 16 Servings; 45 Calories Per Serving.