Step 1: Prepare your molds. Lightly grease silicone spherical molds or a small baking dish with a neutral oil or cooking spray. If using a baking dish, line with parchment paper.
Step 2: Bloom the gelatin. In a small bowl, sprinkle gelatin over 1/4 cup of the water. Let it sit for 5 minutes to bloom.
Step 3: Make the sugar syrup. In a saucepan, combine the remaining 1/4 cup water and sugar. Heat over medium heat, stirring until the sugar dissolves completely. Bring to a gentle simmer, then remove from heat.
Step 4: Dissolve gelatin. Add the bloomed gelatin to the hot sugar syrup and stir until completely dissolved.
Step 5: Add flavor. Stir in the Fireball Cinnamon Whiskey (or substitute), peppermint extract, and a few drops of red food coloring if desired.
Step 6: Pour into molds. Carefully pour the mixture into your prepared silicone spherical molds. If using a baking dish, pour the mixture into the lined dish.
Step 7: Chill. Refrigerate for at least 2-3 hours, or until fully set and firm.
Step 8: Coat the pearls. Once set, carefully remove the pearls from the molds (or cut into small cubes if using a baking dish). In a shallow dish, combine the crushed candy canes and edible glitter (if using). Roll each pearl in the mixture until evenly coated.
Step 9: Serve or store. Serve immediately or store in an airtight container in the refrigerator for up to 5-7 days.