Coconut milk is a staple in south east asian cooking, is super delicious and actually very easy and cheap to do at home!
Coconut milk is used in Indian, thai and Vietnamese dishes, such as this recipe.
You need a powerful blender, a cheesecloth, and (optional) some soy lecithin (or another emulsifier). The soy lecithin helps maintain the emulsion, and makes the whole thing more resistant to splitting when it boils. You can do it without the emulsifier, but you have to be much more careful when boiling the milk.