Sprinkle yeast and white sugar over warm milk in a bowl. Milk temperature should be no more than 100 degrees.
Let stand until yeast foams, about 15 minutes.
Mix together eggs, butter and vanilla.
Pour into yeast mixture and stir.
Put flour and salt into a bowl and form a well in the center.
Pour egg mixture into well and stir until a soft dough forms.
Cover and let rise for about 30 minutes or until double.
Gently fold in pearl sugar.
Preheat waffle iron
Place approximately 1 cup or a baseball size ball of dough into preheated waffle iron. Flatten with the back of a spoon.
Cook until crisp.