4 tbsp. butter
1 (8 oz.) pkg. cream cheese
3 1/2 c. sifted confectioners' sugar
1/2 tsp. vanilla
1 can coconut
2 tsp. milk

Melt 2 tablespoons butter in skillet, add coconut. Stir constantly over low heat until golden brown. Spread coconut on paper towel to cool. Cream 2 tablespoons butter with cream cheese; add milk. Beat in sugar gradually; blend in vanilla. Stir in 1 3/4 cup coconut. Spread on tops of cake layers. Stack and sprinkle with remaining coconut.