Preheat broiler. Generously grease rack of broiler pan. Soak four 12-inch wooden skewers in water while preparing bread.
Cut bread slices in half. Beat milk, eggs, granulated sugar, vanilla, and salt in shallow dish until well blended. Place bread slices in egg mixture. Let stand 5 minutes, turning to soak all sides.
Thread 4 bread pieces onto each prepared skewer. Place on prepared broiler pan rack. Broil 4 to 5 inches from heat 5 to 7 minutes or until lightly browned. Turn skewers; broil 3 to 5 minutes or until lightly browned.
Sprinkle with powdered sugar and serve.