1. Prepare a 9-inch square pan by lining it with aluminum foil and spraying the foil with nonstick cooking spray.
2. In a large saucepan, melt the butter over medium heat. Once melted, add the condensed milk, sugar, corn syrup, and salt, and stir until combined.
3. Bring the mixture to a boil, stirring often. Attach a candy thermometer and boil the candy until it reaches 245 degrees, firm-ball stage. Stir frequently so that the mixture does not scorch on the bottom of the pan.
4. Once it reaches the proper temperature, remove from the heat and stir in the anise extract and the food coloring, mixing until thoroughly combined.
5. Pour the candy into the prepared pan. Allow to set at room temperature overnight, or in refrigerator to speed up the process.
6. Cut into squares using an oiled bench cutter or kitchen shears. Wrap individual candies in waxed paper or cling-wrap to store.
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