If you're making the coconut syrup rather than buying it, combine the sugar and water in a small saucepan. Bring the mixture to a boil and let it simmer until it reaches your preferred consistency.
Add the coconut extract and allow the mixture to cool. You can store in the fridge for up to 1 month. Alternatively, you can add 1/4 teaspoon of the extract per 1/2 teaspoon of the simple syrup. Keeping the simple syrup flavorless allows you greater flexibility in flavor combinations.
If you're making a hot drink, warm the milk in a small saucepan on the stove. Milk heats quickly, so keep a close eye on it to avoid burning it.
If you want froth in the milk, use a frother or mixer. Full-fat dairy milk will froth the best; the less fat content in milk, the less foam it will hold.
Pull a shot of espresso. You can also substitute cold brew coffee or strongly brewed coffee.
Combine the milk and 1-2 teaspoons of the coconut syrup. Add the espresso and then stir to combine. Add more syrup if you want the drink to feature a more robust coconut flavor. I like more of the coffee flavor to shine through, so I add less flavoring.
Finish with whipped cream or soft top.
If you want the iced variety, combine the milk, flavor syrup, and espresso in a glass filled halfway with ice.
Combine ice, milk, flavor syrup, and espresso in a blender for the blended version. Add 1 teaspoon of xanthan gum or chia seeds to give the drink a creamy texture. Blend and enjoy!