Chocolate Donut Glaze

1/3 c butter
2 c confectioners sugar
1 ½ tsp Watkins Vanilla extract
4 – 6 T hot water
4 oz milk chocolate or semi-sweet chips

Heat butter and chocolate over low heat until chocolate is melted; remove from heat. Stir in confectioners’ sugar and vanilla extract until smooth. Stir in water, 1 Tbsp at a time, until of desired consistency.