How to Make It
Prepare the Spiced Simple Syrup: Combine cinnamon sticks, star anise, cloves, allspice, sugar, and water in a small saucepan over medium-high, stirring until sugar is dissolved. Bring to a boil, and remove from heat; let cool to room temperature, about 40 minutes. Pour through a fine wire-mesh strainer, discarding solids. Chill syrup until ready to use. Syrup can be stored in refrigerator in an airtight container up to 2 weeks.
Prepare the Punch: Place 3⁄4 cup of Spiced Simple Syrup in a pitcher. Add orange juice, bourbon, ginger beer, and carbonated water, and stir to combine. Serve over ice with an orange slice. Garnish with a sprinkle of grated nutmeg, if desired.