It can be made in a variety of ways.
It can be a sugar syrup flavoured with coconut extract flavour (either natural or artificial.) For use over pancakes, a small amount of butter is added.
also made from coconut milk, desiccated coconut and sugar, simmered, then puréed in a blender.
There is also a recipe that calls for 1 part white sugar, 1 part corn syrup, 1 part cream (regular cream, as in milk), and 1 teaspoon of coconut extract
or just coconut milk and sugar.
The sugar various recipes call for may be white sugar, brown sugar or icing sugar, or light corn syrup.
Commercial brands include Monin Sirop de Coco and Torani.
To make 1 cup (8 oz / 250 ml):
1 cup ( 8 oz / 250 ml) cream of coconut
2 tablespoons butter
1 tablespoon lemon juice
Combine and heat in a saucepan; remove from heat before it simmers. Whisk constantly. Use, or refrigerate for up to 1 week.
Some brands, such as “Flavors of Hawaii”, require refrigeration after opening.
Others can just be kept inside a cool cupboard. Read bottle for directions.