This is delicious served as a syrup over pancakes or waffles.

1 cup granulated sugar
1/2 cup water
1 vanilla bean, split

Combine sugar and water in a small saucepan. Scrape the seeds from the vanilla bean into the pan, add the bean, then bring to a boil over medium heat, stirring a few times to help dissolve the sugar crystals. Remove from the heat and let cool. Strain sauce through a fine sieve. Reserve the vanilla bean for another purpose.