Mix milk, eggs, rum, vanilla and rum extract together until well blended.

Dip each piece of bread into the batter and turn over so both sides absorb the mixture and it has time to soak in.

Heat skillet to medium, place 1 tablespoon butter in pan and place 2 slices of bread into pan and cook on each side until lightly crisp, then cover it for another minute or to until center of toast is cooked through.

Repeat for remaining 2 pieces of bread.