Combine all ingredients in a saucepan and bring to a boil. Cook over medium heat, stirring occasionally to keep syrup from burning. Let mixture cook together like syrup and begins to coat the spoon (for about 10-15 minutes), then remove from heat. Refrigerate in a heat-proof container. The syrup will thicken a bit in the refrigerator, but will become syrup again when heated.
To make Pumpkin Spice Latte. Heat 3-4 tablespoons syrup with 2 cups milk in microwave (adjust milk depending on pumpkin flavor desired) Pour into a blender or whisk until frothy, for about ten seconds (to make it thick and prevent the pumpkin from settling on the bottom). Pour ½ cup of the pumpkin spice mixture into a large mug. Top it off with strong, hot coffee.
Add some whipped cream, a drizzle of caramel sauce, and a pinch of cinnamon. Store the rest of the latte mixture in the fridge for up to a week, sealed. Shake before usin