In a blender, combine the coconut milk, sweetened condensed milk, and evaporated milk.
Add the white rum, vanilla extract, ground cinnamon, and ground nutmeg.
If using, add shredded coconut for extra texture.
Blend all ingredients on high until smooth and creamy.
Taste the mixture and adjust sweetness or spice to your preference.
Pour the coquito into a large glass bottle or container.
Seal tightly and refrigerate for at least 4 hours, preferably overnight.
Before serving, shake the bottle well to mix any settled ingredients.
Serve chilled in small glasses, garnished with a sprinkle of cinnamon or shredded coconut.
Enjoy the festive flavors of Puerto Rico with each sip!