Combine sugar and water in a medium-size heavy saucepan. Cook over medium heat, stirring frequently, until mixture comes to a boil and sugar dissolves. Continue cooking, stirring frequently, until mixture reaches thread stage (230°).
Beat egg whites (at room temperature) until foamy. Pour hot syrup in a thin stream over egg whites while beating at medium speed of an electric mixer. Turn mixer to high speed; beat until stiff peaks form and mixture has cooled slightly. Cool to room temperature.
Beat whipping cream until foamy; add vanilla. Beat until soft peaks form. Gently fold whipped cream mixture into cooled egg white mixture; spoon into an 8 - inch square pan. Freeze overnight.
Cut parfait into squares, and place on individual plates. Spoon Raspberry Sauce over top.