In a medium-sized saucepan, combine the water, sugar, and corn syrup. With a wooden spoon or spatula, stir gently to combine. Insert a candy thermometer, set for 240°F and heat over medium high heat. You want to avoid stirring the mixture as it heats, otherwise it will form crystals.
Once the sugar mixture reaches a temperature of 225°F, begin whipping the egg whites. In the bowl of your stand mixer, fitted with a whisk attachment, beat the egg whites and cream of tartar on low speed until the egg whites become foamy.
Increase the speed to medium high, and whip until soft peaks form, about 3 to 4 minutes. When you lift the beater out of the bowl, the egg whites should flop over and not stand straight up.
Once the sugar mixture has reached a temperature of 240°F, remove the saucepan from the heat.
With the mixer running, carefully pour the syrup in a thin, steady stream into the whipped egg white mixture.
Your egg whites will deflate a little at first, but then will continue to fluff up and turn white as you continue to beat them.
Continue to whip the fluffy spread for 7 to 8 minutes, or until very thick and glossy.
Add in the vanilla and whip for another minute.
Use immediately or store into an airtight container for up to 2 weeks at room temperature. The spread can be rewhipped by hand if it becomes "flat".