Pour the milk and cream into the saucepan then add the vanilla bean and cinnamon stick and bring to a boil.
Once the milk is boiling, remove the vanilla bean and cinnamon stick.
Then add the rice, reduce heat to low, and simmer for 40 minutes while occasionally stirring to prevent the rice from sticking.
After 40 minutes, remove from heat and add in the butter until it fully metls into the rice.
Add the sugar and mix well.
Let the rice completely cool, about 3 to 4 hours.
Before serving, stir the rice and incorporate the thin skin that has formed on the top.
Serve at room temperature and enjoy!