In a small saucepan, combine water and sugar. Place over medium heat and stir until the sugar has dissolved completely.
Add the pumpkin puree, cinnamon, nutmeg, ginger, and cloves. Stir to combine.
Allow the mixture to come to a simmer, then reduce the heat to low and let it cook for about 10 minutes, stirring occasionally.
Remove from heat and add the vanilla extract. Stir well to combine.
Strain the syrup through a fine mesh sieve to remove any solids. Let it cool completely before transferring to a clean jar or bottle.
Store the syrup in the refrigerator for up to a month.