In a saucepan, combine rinsed rice and 4 cups water. Bring to a boil over medium-high heat.
Continue to cook, stirring occasionally to prevent sticking, until the rice is tender and the mixture has thickened, about 15-20 minutes.
Mix in the vanilla extract and granulated sugar, adjusting to your preferred sweetness. Continue cooking for an additional 2 minutes, stirring until the sugar has completely dissolved.