Place the pitted cherries in two clean pint-sized mason jars, or into several smaller mason jars. You want the jars to be filled loosely, almost to the top.
Combine the water, honey, vanilla, nutmeg, cinnamon stick and orange peel in a medium saucepan.
Gently stir and bring to a simmer over medium heat.
Reduce to low heat and continue to simmer for 10 minutes.
Add 3 to 4 oz of Bourbon to each jar. If you are using smaller jars, use the same ratio per volume.
Remove the liquid from the heat. Pour the mixture gently over the cherries until covered.
Seal the jars, gently shake to mix the bourbon and let cool to room temperature. Once cooled, place in the fridge for at least 3 days before using.
These cherries will last 2 to 3 months.