Concentrated milk sold in cans, and comes either whole or nonfat. Don't confuse it with sweetened condensed milk, which has lots of sugar and is not a good substitute. If a recipe calls for condensed milk, it's almost certainly referring to sweetened condensed milk. Evaporated milk is sold with varying amounts of butterfat, ranging from whole evaporated milk with about 8% to skim evaporated milk with about 0.5%. To reconstitute evaporated milk, combine it with an equal amount of water.
Recipes to make your own evaporated milk:
Evaporated Milk (Recipe #39562)
Evaporated Milk (Recipe #71192)
Evaporated Soymilk (Recipe #67841)
Evaporated Soymilk Recipe #67841
half and half OR milnot (available in Britain; whips better than evaporated milk) OR cream (higher in fat, but works well in pumpkin pies)
Dairy-Free Substitution: 1 cup water + 6 tablespoons soy milk powder = 1 cup evaporated