Preheat oven to 275 degrees. Grease and flour a 10 inch tube pan.
Cream together sugar and butter. Add eggs, one at a time, beating after each one.
Add vanila wafers and milk. Stir in coconut and pecans.
Pourinto the prepared pan and bake for 1 hour and 15 minutes. Cool before turning out onto a cake plate. Delicious served with whipped cream and decorated with a maraschino cherry on top! Dust with a few chopped pecans.