Combine water, sugar, orange peels, cinnamon sticks, whole cloves, and orange juice in a saucepan over medium heat.
Stir until sugar dissolves, then simmer 20-30 minutes until thickened.
Remove the saucepan from the heat and allow to cool. Strain the syrup through a fine mesh sieve into a glass jar. Store in the refrigerator for up to two weeks, or add a splash of vodka to the syrup and store for up to a month.
For the Spiced Pomegranate Margaritas:
Combine tequila, lime juice, spiced orange simple syrup, pomegranate juice, triple sec, and a pinch of salt in a cocktail shaker.
Fill the shaker halfway with ice, secure the lid, and shake vigorously for 20-30 seconds until the shaker is super cold.
Strain the margaritas over ice, dividing between two glasses.
Garnish with a lime wedge, orange slice, or dehydrated orange wheel.