It's known that rum was sometimes added to this drink in the 1920s, and someone came up with the idea of adding coconut milk (but no rum) in the 1930s. The first printed reference of a "piña colada" consisting of rum, pineapple juice and coconut milk is from a New York Times article in 1950.
In 1954, something interesting happened. That was the invention of "cream of coconut", a thick, creamy syrup made from coconut milk and sugar. The brand developed is called Coco Lopez.
That same year, so the legend goes, Ramon "Monchito" Marrero, a bartender at the Beachcomber Bar at the Caribe Hilton in San Juan, Puerto Rico, was asked by the hotel management to come up with a signature cocktail for the bar. After some months of experimentation, he perfected a simple yet exotic Piña Colada recipe using Coco Lopez cream of coconut, served as a blended drink. This recipe endures to this day, and Coco Lopez is the industry standard for those who wish to make the best quality Piña Coladas (as opposed to taking the easy way out and using "Piña Colada mix").
The popularity of this drink was given a major boost in 1979 with the release of Rupert Holmes' hit single Escape, also known as the Piña Colada Song.
Basic recipe:
1 part light Puerto Rican or Cuban rum
1 part cream of coconut
2-3 parts unsweetened pineapple juice
Blend in a blender and pour into tall glass; otherwise shake and strain, and pour into tall glass with ice. Garnish with pineapple slice and cherry. Add a straw. A cocktail umbrella would look nice too!
Bartenders have innovated upon this basic recipe by adding chopped pineapple (in blended drinks), Malibu (a coconut flavored rum), lime juice, orange juice, cream, rum floats, and much more. It doesn't hurt to add your own touch!
(I used a golden Jamaican rum here. Tasted very good!)
