Preheat oven to 350 degrees F.
In a large bowl, beat sugar, pumpkin, oil and eggs until well combined. In a separate bowl, combine flour, baking powder, baking soda, cinnamon, pumpkin pie spice and salt. Stir well to combine. Slowly add the dry ingredients to the wet ingredients and mix until well combined but do not over mix.
Pour batter into a greased jelly roll (15" x 10") pan. Bake for 20-25 minutes or until a toothpick inserted into the center comes out clean.
Remove from oven and allow to cool 2-3 minutes. Using a round item such as a straw, poke approximately 16 holes into the cake, then drizzle caramel sauce over cake and into the holes.
To make caramel frosting, beat butter with a mixer until light and creamy. Add in remaining ingredients and beat with mixer until well combined. Frosting can be spread over cake while warm (this will allow frosting to melt into cake partially) or when cool, which is more of a traditional frosting method, and will help to cover the holes created in the cake for the caramel sauce.
Makes approximately 24 servings.