1 stick unsalted butter, room temperature
½ teaspoon vanilla bean or 1 teaspoon vanilla extract
¼ teaspoon kosher salt
½ cup Cap'n Crunch cereal, plus more to finish
1 cup plus 2 tablespoons all-purpose flour
1½ tablespoons granulated sugar
1 teaspoon kosher salt
1 tablespoon baking powder
1¼ cups whole milk
2 large eggs, lightly whisked
6 tablespoons melted unsalted butter, plus more for the skillet
1 cup condensed milk
¼ cup heavy cream
Pinch kosher salt
1. Make the vanilla butter: In a medium bowl, mix together the butter and vanilla until well combined. Refrigerate while making the pancakes.
2. Make the pancakes: In a food processor, add the cereal and pulse until it is ground to a fine powder. Transfer to a medium bowl and add the flour, sugar, salt and baking powder. In a separate bowl, whisk together the milk, eggs and melted butter. Mix the wet ingredients into the dry ingredients just until combined.
3. Set a griddle or large nonstick skillet over medium-high heat. Grease lightly with a bit of melted butter and add ¼-cup spoonfuls of batter to the pan, making sure to space the pancakes at least 2 inches apart. Once bubbles begin to form on the top of the pancakes, after 4 to 5 minutes, carefully flip them and cook until the second side is golden brown, 1 to 2 minutes. Repeat with the remaining batter until it is all used.
4. Make the condensed-milk syrup: In a medium bowl, whisk together the condensed milk, heavy cream and salt.
5. Serve the pancakes with the vanilla butter and condensed-milk syrup and top with extra Cap'n Crunch cereal.