Bourbon fans will love this light and fizzy drink. You can substitute ginger ale for ginger beer, but make sure to use freshly squeezed orange juice.
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.