In a small saucepan, combine the water and sugar and place over medium-low heat. Stir often until the sugar is dissolved and then add the mint sprigs. Cook for another 2 minutes and then remove the syrup from the heat. Steep for 20 minutes then remove the mint. Store in an airtight container in the fridge for up to 1 week.
Mint Julep Cocktail
In a cocktail glass, muddle 5-6 mint leaves with the mint syrup. Add the bourbon and lemon juice and stir. Fill the glass with crushed ice and garnish with mint and a lemon wheel.