Cream together butter and sugar, blend in milk and vanilla, stir in flour, candied cherries and nuts. Form batter into a ball, then form into a roll, 2 inch in diameter and 8 inches long. Roll in the coconut and wrap in aluminum foil and put in the freezer for several hours (overnight).
Slice 1/4 inch thick and place on ungreased cookie sheet. Bake in 375 degree oven for 10-12 minutes. These get crunchy or chewy. Makes approximately 4 dozen.