Add the sugar and water to a small saucepan on the stove, on low heat. Let simmer until the sugar dissolves, stirring the entire time.
Then add the remaining ingredients and use a whisk to mix everything together.
Let simmer at a low heat (a very light boil is ok), whisking often, until the mixture thickens to the consistency of a thin syrup. This can take anywhere from 20 to 30 minutes.
Let cool.
Store in an airtight glass jar in the fridge for up to 2 weeks.