The Original Sazerac Cocktail

1 teaspoon of simple syrup (or 1 sugar cube or 1 teaspoon of granulated sugar)
3 - 4 dashes Peychaud's bitters
2 ounces rye whiskey (most New Orleans bars use Old Overholt)
1/4 teaspoon Herbsaint, a New Orleans brand of anise liqueur
(You may use Pernod, or some other pastis or absinthe substitute)
Strip of lemon peel

I recently had one or two of these at a great restaurant called "Purple" here in Seattle. I recommend (both the cocktail and the place).
More than you want to know about the Sazerac is here.