In a small saucepan, melt butter over medium heat.
Add chopped pecans and toast for 3–4 minutes, stirring frequently, until fragrant.
Stir in maple syrup, brown sugar, water, and cinnamon. Simmer for 5–7 minutes, stirring often, until sugar dissolves and syrup slightly thickens.
Remove from heat and stir in vanilla bean paste/extract.
Strain through a fine mesh sieve into a clean jar (or leave the pecan bits in for texture). Let cool before sealing. Store in the fridge.