Combine sugar and wine in a large nonaluminum Dutch oven or stockpot; stir well. Cook over medium-high heat 2 minutes or until sugar dissolves, stirring constantly (do not boil). Add apricots, cinnamon stick, and vanilla bean; bring to a boil, and cook 30 seconds, stirring gently after 15 seconds. Remove from heat; gently stir in vodka. Let cool completely. Spoon mixture into a large bowl; cover loosely with cheesecloth or a towel, and refrigerate 4 days.
Drain apricot mixture through a fine sieve, reserving liqueur and marinated apricots. Discard cinnamon stick and vanilla bean. Pour liqueur into decorative bottles, and store in the refrigerator. Spoon the marinated apricots into a bowl; cover and chill.
Note: Apricot liqueur will keep in the refrigerator for several weeks. Use the marinated apricots within 3 days.