Combine water and honey in a small saucepan. Heat over medium, stirring often, until the mixture is smooth. Remove from heat and cool to room temperature.
Cocktail
Combine 2 ounces of the honey simple syrup, gin, lemon juice and orange juice in a cocktail shaker filled with ice and shake vigorously for 30 seconds.
Strain into a small chilled cocktail glass and serve.
Reserve remaining honey simple syrup for more cocktails.