Ingredients: sugar, Angostura bitters, bourbon, ginger ale, fresh orange.
Mix up vigorously one teaspoon sugar, five or so drops of Angostura bitters and a shot of bourbon in an old-fashioned glass (duh!). Add ice, a slice of orange (the orange is absolutely necessary), a cherry and a splash of ginger ale. Stir, and, if possible, let sit in the fridge for a few minutes before serving.
This is my favorite cocktail of all time, with beautiful color and a sweet orange taste. Canadian or other whiskeys can be substituted for bourbon, but really this is a red-blooded American's drink. Warning: The old fashioned is absolutely disgusting without the slice of orange.
By the way, after you taste this drink (made properly), you will be amazed to learn that Angostura bitters have nothing to do with oranges but are in fact made from the bark of a tropical tree. They are somewhat hard-to-find; try an upscale liquor store.