COMBINE morsels, cream and corn syrup in large microwave-safe bowl.
MICROWAVE uncovered, on HIGH (100%) power for 1 minute; STIR. If necessary, microwave at additional 20- to 30-second intervals, stirring until morsels are melted and sauce is smooth. Add liqueur or extract; mix well.
SERVE warm as a dipping sauce for fresh fruit or spoon over ice cream or cake. Store remaining sauce tightly covered in refrigerator. Makes about 2 cups.
TRANSFER sauce to clean gifting jars; seal well. Refrigerate up to 7 days.
1 3/4 cups (11.5-oz. pkg.) NESTLÉ® TOLL HOUSE® Milk Chocolate Morsels can be substituted for the Semi-Sweet Chocolate Morsels.
Serve with sliced pears and seasonal holiday fruits.