Combine the water and sugar in a medium saucepan and heat over medium-high heat, stirring occasionally, until the sugar has completely dissolved.
Toss in the cinnamon sticks and whisk in the remaining spices and the pumpkin puree. Continue to cook for about 5 minutes, stirring frequently.
Remove from the heat and allow to cool for 10-15 minutes. Remove cinnamon sticks (or strain through a fine mesh strainer).
Store in the refrigerator.
To make a pumpkin spice latte: combine 2 ounces of hot coffee or 1 shot of hot espresso with 6 ounces of steamed low-fat milk. Stir in 2 tablespoons of pumpkin spice syrup. Taste and adjust amounts accordingly. Top as desired with freshly whipped cream or a dash of cinnamon and nutmeg.