My step-dad made this on our back porch in farm country. Made of Karo Syrup, with food coloring in a pin tin. After it cooled down, he would take it out of the pie tin, lay it over a shelf bracket and start pulling. After a certain amount of time, for either hard or soft taffy, he'd then lay it out on wax paper and break or cut. Made for Christmas gift and some for us. He'd do this every winter.
My mother also made this, but she called it "syrup candy." I don't think she added any food coloring but I don't remember.
My Granny did this for Christmas each year and we could not wait for her to call us and ask if we would like to come over for a Taffy Pull. Our little arms would be so tired after it was done but we loved doing it .. and it was so tasty ! Great memories!
I've only made it accidentally while trying to make syrup. More often ended up with rock candy that way.