Heat oven to 350°F. Lightly grease large baking sheet.
In small bowl, stir together flour, almonds and salt.
In medium-size bowl, beat together butter, sugar, egg yolk and vanilla and almond extracts until smooth and creamy, 2 minutes. Stir in flour mixture.
Divide dough into 20 equal balls. Cut 5 caramel candies into quarters. In palm of hand, flatten dough into 2-inch round. Press piece of caramel into center of each piece of dough and securely pinch closed. Reshape into balls and place 2 inches apart on prepared baking sheet. Brush tops of balls with lightly beaten egg white; sprinkle with coarse decorating sugar crystals.
Bake in 350°F oven for 12 to 14 minutes until firm; do not overbake or bonbons will split. Remove bonbons to rack; let cool.