Heat the cream, sugar and vanilla in a saucepan until it is just about the come to a boil, stirring from time to time to dissolve the sugar. While the cream is heating up, soften the gelatin in enough tepid water just to cover. When the cream is just about to boil, remove it from the heat and add the softened gelatin. Stir to dissolve the gelatin completely. Remove the vanilla bean if using.

Let the cream mixture cool off for a few minutes, then strain in through a sieve. Pour the mixture into individual serving bowls or molds. Place the bowls or molds in the refrigerator until the cream mixture is set, about 4-6 hours.

If you are using molds, loosen the panna cotta by placing the molds in hot water for about a minute, then unmold onto plates, knocking on the tops in need be to detach the panna cotta from the mold. You may need to use a spatula if the panna cotta sticks stubbornly to the mold, as it has a tendency to do.

Whether you presenting your panna cotta in bowls or unmolded on to plates, let it come to room temperature. Just before serving, pour your sauce or toppings over and/or around the panna cotta.