In a light-colored pan, melt the butter over medium-low heat, stirring occasionally until it turns golden brown and develops a nutty aroma.

Transfer the browned butter to a bowl, then add the powdered sugar and vanilla extract. Whisk until well combined.

Add milk or water, one tablespoon at a time, whisking until the glaze is glossy and reaches a thick but pourable consistency.

Drizzle the glaze over fully cooled cookies, scones, pound cake, or other baked goods using a spoon or piping bag. Allow it to set at room temperature or refrigerate for 10-20 minutes before serving.