The old fashioned is a cocktail made by muddling sugar with bitters and water, adding whiskey or bourbon, and garnishing with orange slice and a cocktail cherry. It is traditionally served in an old fashioned glass, which predated the cocktail. Developed during the 19th century (around 1806) and given its name in the 1880s, it is an IBA Official Cocktail.
Add the sugar and bitters to a rocks glass, then add the water, and stir until the sugar is nearly dissolved.
Fill the glass with large ice cubes, add the bourbon, and gently stir to combine.
Garnish with orange peel over the glass, then drop in.