Creamy Classic Horchata

In a dry skillet over medium heat, toast the rice, cinnamon sticks, star anise, and clove until lightly golden and fragrant, about 2–3 minutes.
Transfer the toasted mixture to a bowl, add the warm water, cover, and refrigerate overnight.
Pour the soaked rice mixture into a blender and blend briefly for 15–30 seconds.
Strain through a cheesecloth-lined fine mesh strainer, discarding the rice solids.
Return the strained liquid to the blender and add the evaporated milk, condensed milk, vanilla, and salt. Blend until smooth.
Pour into a large pitcher and add cold water until the horchata reaches your desired consistency.
Chill well, then serve over ice.