Combine cranberries, water and sugar in a large saucepan over high heat.
Cook, stirring frequently, for 10-15 minutes. Cranberries will burst (press against pot w/ back of spoon to release more fruit), and mixture will thicken.
Strain cranberry mixture through fine mesh sieve, adding up to 1 cup additional water to make more syrup. Press and stir cranberries against sieve to extract as much syrup as possible.
You will end up with a beautiful ruby-red cranberry syrup! I use mine for cocktails (margaritas, champagne, etc...), but this syrup would also be good over pancakes or waffles.
Makes ~ 3-4 cups syrup (great holiday gift!). Store in refrigerator for up to one month.
In a shaker over ice, mix 2-3 T cranberry syrup, 3 T silver tequila, 2 T orange liquor (not triple sec!) juice of 1 lime and a squeeze of agave nectar. Pour into chilled martini glasses. Cheers!