Using a 4 cup measuring cup, measure out 2 cups cold water. Add ice cubes until you've reached 3 cups. Pour into a blender.
Add sugar, cherries with juice and extracts. Blend 2-3 minutes, until mixture is smooth.
Transfer mixture to the quart sized bags, adding 2.5 cups of syrup per bag. Freeze at least 4-6 hours.
When ready to serve, remove bags of slush from the freezer and massage. Pour into a punch bowl. Add soda to bowl. Gently stir to break apart clumps. Serve, topped with whipped cream and a cherry.
Video
Notes
15 minutes active prep time ~ 4-6 hours freezing time required