Plantation Punch

Heat water and sugar in small heavy saucepan over low heat, stirring occasionally, until sugar is dissolved. Increase heat to medium; boil syrup 3 minutes. Remove from heat; cool to room temperature.

Place sugar syrup, the three rums, orange juice, lime juice, grenadine syrup, and bitters in a large jar with tight-fitting lid; cover and shake until well mixed and foamy. Pour into four 11-ounce mugs or other serving glasses filled with crushed ice; sprinkle with nutmeg or cinnamon. Garnish with cherries and pineapple slices, serve with a straw.