Combine the sugar and 1/4 cup water in a small saucepan and bring to a boil, stirring to dissolve the sugar. Remove from the heat and let cool to room temperature.
Scald a pint jar with a little boiling water; just swirl and dump. Pack the cherries and orange peel into the jar, leaving 1 inch of headroom at the top.
Stir together the cherry liqueur, almond extract and 2 1/2 ounces of the sugar syrup in a glass (save the remaining sugar syrup for sweetening drinks). Pour the mixture over the cherries. If needed, top off with cherry liqueur to cover. Seal the jar and refrigerate for a minimum of 3 days.