Basically to make vanilla extract, you put 6 vanilla beans (split open) into 8 oz of vodka, shaking every couple days. I have read that it takes anywhere from 2 weeks up to a year before the vanilla is ready.
Here are some sites that I found helpful:
Vanilla Review (lots of info about vanilla beans and making extract)
Vanilla Products USA (I purchased the Madagascar Grade B beans--grade A aren't necessary for making extract. You will get less of the grade A and the moisture in the bean does not add flavor to your extract)
Specialty Bottle (where I ordered the bottles from)
I made vanilla last year and have some working now that I started in January, March and April. Most of what I've read says it's best if steeped at least 2 months or more. Anyway, I use it all the time myself, it was a big hit with those I gifted, and I plan on gifting again this Christmas. It is soooo good - you'll never have to buy vanilla again!
The less you respond to rude, critical, argumentative people, the more peaceful your life will become. ~Mandy Hale~