I have never made a Swiss Meringue frosting before. What is the difference between Swiss Meringue and a regular butter cream? Can anyone recommend a good recipe? I would like to make a caramel frosting.

if you mean "regular buttercream" as fat + powdered sugar, yes, very different. you'll notice the taste difference right away. it does not crust, but you can do the same basic techniques with it (e.g. piping).

here is a great youtube video of the recipe/process:

Here's a great detailed recipe and tips.