1 (7 ounce) can coconut
2 cups milk, divided
1 3/4 cups granulated sugar
1 stick cinnamon
3 egg yolks
2 tablespoons butter
1/4 cup sliced unblanched almonds

Place 1 cup of the milk, the sugar and cinnamon over moderate heat in a large pan. When it begins to boil, add coconut; stir until coconut looks transparent. Add the yolks beaten with the remaining milk, and stir constantly until a wide swath appears on the bottom of the pan every time you move the spoon through the mixture. Butter a large platter. Empty the mixture onto it. Sprinkle with the almonds, then cool.

Serve either warm or cold.