Chop cranberries coarsely. Pare orange with vegetable parer, using only the thin orange zest, not white. Combine cranberries, orange parings and vodka in a glass or plastic one gallon container. Cover and let steep at room temperature for 3 to 4 weeks. (Stir the fruit from the bottom ever so often.)
Strain into a clean container.
Combine sugar and water in a saucepan; bring to a boil. Boil 1 minute. Cool. Stir sugar syrup into cranberry-orange-vodka liquid. Taste. For a sweeter liqueur, more sugar syrup may be made and added.