To make the caramel sauce, place sugar in a medium saucepan over medium heat. Stir occasionally until sugar begins to clump together. Continue cooking until clumps begin to melt and turn amber in color. Stir occasionally until completely melted. While stirring, add cubed butter a little at a time, stirring quickly to incorporate. Gradually add cream until incorporated. Reduce heat to low and continue cooking for an additional minute. Remove from heat and stir in honey, spices, and salt. Let cool completely before using. (Caramel sauce can be made in advance and kept in a sealed container at room temperature.)

To assemble the trifles, spoon a layer of pudding into the bottom of 6-8 cups (number of servings will vary depending on the size of cups used). Top with crushed vanilla wafers, whipped cream, caramel sauce, and sliced bananas. Repeat layers if using large cups. Store covered in the refrigerator until ready to serve.