Spread 1 side of each bread slice evenly with butter.
Combine 1/4 cup sugar and cinnamon; sprinkle evenly over buttered side of bread. Place on a baking sheet.
Broil 4 inches from heat (with electric oven door partially open) 2 minutes or until browned and bubbly. Remove from oven; cool.
Cut each toast slice into 4 triangles. Arrange triangles, sugared side up, on bottom and around sides of a well-buttered 9-inch quiche dish, overlapping, if necessary. Set aside.
Cook milk in a saucepan over low heat until hot; remove from heat, and add 2/3 cup sugar and next 3 ingredients, stirring until sugar dissolves.
Spoon half of custard into quiche dish; let stand 5 minutes.
Pour in remaining custard, and place dish in a large shallow pan. Add hot water to larger pan to depth of 3/4 inch.
Bake at 350° for 30 to 35 minutes or until a knife inserted in center comes out clean. Serve warm with Caramel Sauce.
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