In a heavy saucepan, mix together sugar and cornstarch. Stir in corn syrup, water, salt and butter/margarine. Place over medium heat and stir until sugar dissolves. Cover pan and bring to a boil for 2 or 3 minutes. Uncover, place thermometer in pan and cook to 246°F. The lower temperature will result in a chewier taffy, the higher a more brittle texture. Remove from heat and add food color and flavoring. Stir gently, pour onto lightly greased marble slab or a shallow lightly greased pan to cool.

When cool enough to handle, lightly butter hands and pull the warm candy with fingertips, pulling out to about 12 inches at first. Quickly turn candy back from fingertips of one hand to the other hand, then catch center and pull again. This will incorporate air into the candy. Continue pulling until taffy is light in color and has a satiny gloss, about 10 to 15 minutes.  Pull into a long rope, cut with greased scissors and wrap in waxed paper squares, twisting ends.