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Pour the rum, coconut milk, coconut cream, condensed milk, evaporated milk and vanilla into a blender. Blitz to combine, then pour into a large jug and add the cinnamon stick. Chill for at least 4-5 hrs, or overnight. Will keep in the fridge for up to four days.
When you're ready to serve, stir the coquito, then pour small measures over ice, if using, and sprinkle with nutmeg or cinnamon.