To make chocolate syrup: In small saucepan, combine honey and cocoa; mix well. Stir in water; cook over low heat 5 minutes or until mixture is slightly thickened. Remove from heat; stir in vanilla. Set chocolate syrup aside until ready to serve.
Note: Chocolate syrup may be prepared in advance and stored, covered, at room temperature for up to 2 weeks. For single serving of hot chocolate, stir 1/4 cup chocolate syrup into 3/4 cup hot milk.
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