COMBINE sugar and water in a medium saucepan and bring to a boil, stirring occasionally. Once sugar is dissolved, reduce heat to medium-low and continue to simmer until the sugar slightly reduces and becomes syrupy.
ADD tea bags, remove from heat and let steep for at least 10 minutes.
REMOVE tea bags, squeezing out all of the liquid.
TRANSFER syrup to a resealable jar or container. Store syrup in a covered container in refrigerator for up to 1 month.