Pour the apple juice into a medium saucepan and begin to heat over medium heat.
Peel the banana, then mash it with a fork or in a blender until smooth.
Add the mashed banana to the apple juice in the saucepan and stir well to combine.
Add the cinnamon stick, cloves, and a pinch of nutmeg, then stir.
Simmer the cider over low heat for 10-15 minutes to allow the flavors to meld.
Remove from heat, stir in the honey and vanilla extract, and mix thoroughly.
Strain the cider through a fine-mesh sieve to remove the spices and banana fibers.
Pour into glasses and serve immediately while warm. Garnish with a cinnamon stick or orange peel, if desired.
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