I found a post on yahoo about how to make your own pancake syrup.
Here are some recipes
Almost Maple Syrup
1 c Brown sugar
1/3 c Water
1/8 ts Salt
1/4 ts Vanilla extract
In saucepan dissolve sugar in water. Add salt and boil for 1 minute. Add
vanilla and mix well. Serve warm. Yield: 3/4 cup.
Aunt Jemima Maple Syrup
2 c Water
1 c Sugar
2 c Dark corn syrup
1/4 ts Salt
1 ts Maple flavoring
Combine the first 4 ingredients in a saucepan over medium heat. Stir
occasionally, until the mixture comes to a full boil. Let it boil for 7
minutes. Turn the heat off and let the syrup cool for 15 minutes. Add the
maple flavoring and stir. When completely cool, transfer the syrup to a
covered plastic or glass container. Makes: 1 quart
Mock Maple Syrup
1 c Brown sugar
1 ts Butter
1 c Boiling water
1/2 ts Vanilla
1/2 c Sugar
1. Combine brown sugar and water and bring to a boil.
2. Caramelize whte sugar by heating it in a frying pan until sugar melts
and turns brown.
3. Add brown sugar syrup from step 1; simmer until smooth and thick.
4. Pour into a pitcher containing butter and vanilla.
Simple Syrup
3/4 cup water
1 c sugar
1/4 stick butter
Bring to a boil, and then let it simmer until it thickens.
HOMEMADE MAPLE PANCAKE SYRUP
1 c. brown sugar
3/4 c. water
1 tsp. maple flavoring
Mix sugar and water in saucepan. Bring mixture to a boil; simmer for 15 minutes. (Don't let it boil again, or overcook.) 3. Add maple flavoring; chill.
Homemade Pancake Syrup
3 cup Water
3 cup Granulated sugar
3 cup Brown sugar
1 cup Corn syrup
1 tablespoon Lemon juice
1 tablespoon Vanilla
1 tablespoon Maple flavoring
Combine first 4 ingredients in large saucepan. Stir on medium high until it boils. Add lemon juice, vanilla and maple flavoring. Stir. Fill hot sterilized bottles to within 1/4 inch of top. Seal. Makes 3-1/2 pints. Origin: Jean Pare's Preserves Book
I've tried out the first one - haven't tasted it yet though.