In a medium saucepan, stir together the sugar and water. Bring to a boil over medium-high heat and let cook until the sugar turns a deep amber. Stir in the ¼ cup heavy cream – be careful because it will bubble up and might splatter. Reduce the heat to low and stir until the caramel is smooth.
Remove from heat and stir in the butter until completely melted and blended.
Transfer the caramel to a food processor. Add the cream cheese, banana, cinnamon and orange zest. Process until very smooth. Spoon into a serving bowl, and sprinkle with butterscotch chips and cinnamon.
Serve with Popcorners for dipping!