Peel the bananas and chop them into smaller pieces. Place them in a large, sealable jar.
Pour the vodka over the bananas and add the vanilla extract. Seal the jar and let it sit in a dark, cool place for 7 days. Shake the jar daily to help the flavors infuse.
In a saucepan, heat the water and stir in the sugar until completely dissolved. Let the syrup cool completely.
Strain the banana-infused vodka through a fine-mesh sieve or cheesecloth to remove the fruit solids.
Combine the strained vodka and the cooled sugar syrup. Mix thoroughly, then pour into sterilized bottles.
Let the liqueur rest for at least 2 weeks to allow the flavors to meld. Serve and enjoy!
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