Coconut Pecan Frosting

1 (14 ounce) can sweetened condensed milk

3 egg yolks

1/2 cup butter

1 1/3 cups flaked coconut

1 cup chopped pecans

1 teaspoon vanilla extract

In a heavy 2 quart saucepan over medium heat, cook the condensed milk, egg yolks, and butter 10 minutes, stirring constantly, until bubbly. Remove from heat, and stir in the coconut, pecans, and vanilla. Allow to cool for 15 minutes before spreading on cake.