This is an absolutely fantastic Christmas party drink. I made it for my boyfriend and a friend of his, and was then asked to make it again. And again. And again.
This is a very simple, easy to make cocktail, and there's a good chance you already have most of the ingredients in your kitchen. It's not syrupy like most cocktails you'll get at a bar, and its sweetness is very subtle, lending it to an easy drink without any stomach issues. The frothiness of the drink makes it a deliciously savory cocktail. The nutmeg sprinkled on top is more for your smell senses.
You know how your senses are all closely tied to each other, and your sense of smell directly affects the way things taste? That's what the nutmeg is for. The nutmeg on top barely touches your tongue while you're drinking. In fact, if you do end up tasting it, it may taste too pungent and bitter. The point of it is the scent. As you drink, you're inhaling the nutmeg and the scent is mixing with the cocktail that you're tasting. It's a beautiful sensory experience as you're drinking.
For this particular cocktail, I prefer using Blackheart spiced rum (pictured). When I do that, I actually leave out the vanilla extract (which you'll see isn't pictured for that reason). The rum already has a very strong vanilla undertone that carries the rum flavor and enhances this cocktail splendidly.
You can replace the honey with simple syrup, but I prefer the richness of the honey in the cocktail. It makes it a stronger, but less overpowering sweet. Remember when using honey in a chilled drink like this one, however, that the honey will harden before dissolving. That's why I give it a good stir when I add it in, before shaking, just to make sure it completely dissolves into the cocktail.