Slit vanilla bean down the middle on one long side, then use a paring knife to unfold the bean and scrape out the seeds. Set aside.
Combine sugar and water in a small saucepan and bring to a simmer over medium heat, stirring frequently to dissolve the sugar.
When sugar has dissolved, remove the pan from the heat and stir in the vanilla bean seeds and the scraped-out pod.
Use a spatula to press down on any clumps of vanilla bean seeds so that they separate.
Let cool completely, then remove the pod.
Store syrup in a small mason jar, swing-top bottle, or similar airtight container in the refrigerator.
Notes
Storage Tips: Syrup will last for up to 3-4 weeks stored in the refrigerator.Expert Tips: Note that the vanilla bean seeds will often float to the bottom of the jar once it has been sitting for a while. Just stir or shake the jar before using.Want to repurpose that empty vanilla bean pod? Rinse and dry it, then put it in a jar with sugar in it to make vanilla sugar.And, if you have extra vanilla beans, note that they can dry out quickly—try storing in an airtight jar in a dark room.