There are a lot of versions of this homemade chocolate sauce out there...this one works well for us. Spoonfuls from the container (in between hot fudge sundaes) are allowed ;).
In large saucepan (to give room for chocolaty simmering)
1/2 c. butter
1 c. semi-sweet chocolate chips
Take off stove and add:
1 13oz. can evaporated milk
1 tsp. vanilla
Mix well (I use a wisk) then return to stove and add:
4c. powdered sugar
Cook on med/low until thickened and sugar has dissolved. Let it boil for 3-5 minutes. Store in jars in the fridge after cooling.
(The directions are a little zany, but just copied from my old recipe from the box.)