In a medium saucepan, combine the apple juice, orange juice, and water.
Add the honey and caramel sauce. TIP: Warm over low heat, stirring until the honey and caramel are completely dissolved.
Add the cinnamon sticks and simmer over low heat for 10-15 minutes to allow the flavors to meld. TIP: For a more intense spiced flavor, add a few cloves.
Strain the punch and pour it into heatproof glasses or mugs.
Garnish with orange slices and serve warm or at room temperature. TIP: If you prefer a cooler punch, add ice cubes when serving.
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