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What is an Edition Size?

An edition size of a work is the number of times you will be recreating the same work. For example, in photography an edition size refers to the number of times you will be printing the same image.

What is an Artist Proof (AP)?

Artist proofs or AP are the editions that an artist keeps and does not sell. They are editions of works that an artist can use later. 

Artist's proofs are not included in the count of a limited edition, and sometimes the number of artist's proofs, which belong to the artist, can be twenty or more. By convention, the artist is not supposed to sell these at once.

What is the correct way to label the editions in my caption? 

This is the format you can use in your caption so buyers have all the information they need:

Editions: 2/8 + 1 AP

This means that 2 editions of this work are sold,  the work has an edition size of 8 and the artist is keeping 1 Artist Proof.

Should I mention the edition size on the Certificate of Authenticity?

Yes, the Certificate of Authenticity should tell a buyer what edition of the work they purchased and what is the edition size of the work.

This can be written as: 

Editions: 3/8 + 1 AP

Which means that the buyer has bought edition number 3 of a work that has 8 editions and the artist is keeping 1 Artist Proof.