Place cherries in a bowl and lightly crush using a potato masher or fork. Transfer cherries and their juices to a sterilized quart jar. Pour balsamic vinegar and white wine vinegar into jar, making sure cherries are completely submerged. Tuck vanilla bean into vinegar, too.
Wipe jar rim with a clean cloth. Cover jar with a nonreactive lid. Store jar in a cool, dark place for 1 week, shaking it daily and ensuring cherries and vanilla bean stay submerged. Strain mixture through a fine-mesh strainer and discard solids. Combine vinegar and sugar in a sterilized container with a nonreactive lid. Refrigerate for 1 week more, shaking jar daily to help dissolve sugar. Store in refrigerator for up to 1 year.
Kitchen Tip: Grinding turbinado sugar into smaller crystals will help it dissolve more quickly. To do so, use a clean food processor, coffee grinder or mortar and pestle.
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