Combine sugar and water in small saucepan. Bring to a boil. Boil until mixture starts to thicken, and then reduce heat and continue to boil for another 8-10 minutes.

Remove from heat. Let cool, but stir as it cools so it doesn't get too cold too quickly and become too thick.

When the syrup is cool enough, add the bourbon and gently combine.

Drizzle over cupcakes when cooler. (It can be slightly warm still.)