Combine sugar and water in a small saucepan.
Heat over medium, stirring until sugar dissolves completely.
Let simmer gently for 2–3 minutes.
Remove from heat and cool slightly.
Stir in bubblegum extract, salt, food coloring, and vanilla (if using).
Cool completely before using.
Store leftover syrup in an airtight jar in the refrigerator for up to 2 weeks.