For the simple syrup: In a small saucepan, combine the sugar and water. Stir and boil until the sugar dissolves and the liquid becomes a slight syrup. Cool the syrup before using. Makes 1 cup. Set the syrup aside. In a glass container, combine the bourbon, brandy, half and half, and vanilla, together. Stir the liquid until incorporated. Stir in the syrup to your own desired sweetness. Chill the punch well. Serve the punch in chilled glasses and garnish with nutmeg.