While visiting Bali a few years ago and engaging in an inspirational cooking class, one of the many things I learned was how to make vanilla extract. The results are amazing and you will never have to resort to the common grocery store brands.
My favorite method is filling a large jar with rum and adding in vanilla beans. Let it sit for a few months and you have the most scrumptious vanilla extract. Just keep adding rum as needed.
Vanilla Bean Extract Recipe
6 medium vanilla beans
2 1/2 cups of rum
Slice beans lengthwise to expose the seeds. Place in jar and cover with rum. Close jar, shake and place in a cool, dark place. Let it rest for approximately 7-8 weeks. It will keep eternally if you remove older beans when you add new ones. Add rum and beans as needed.