Combine the cream, butter, sugar, egg yolks and vanilla in a medium saucepan.
Cook and stir the mixture over medium heat until it is thick (about 12-15 minutes).
Add the coconut and pecans. Mix well and allow to cool.
Once the mixture is at room temperature, beat the mixture for 2-3 minutes.
Spread on a chocolate cake or cupcakes.
This recipe makes about 2 1/2 cups, which is enough to top one 9x13 cake or a layered German chocolate cake.
Store any leftover frosting in the refrigerator.
The calories shown are based on the recipe making 2 1/2 cups, with 1 serving being 1/4 cup of frosting. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate.