Pour the apple juice or apple cider into a small saucepan and place it over medium heat. Warm it until it reaches a gentle simmer rather than allowing it to boil aggressively. You can also warm the apple juice in the microwave if you prefer a quicker method. The goal is simply to make it comfortably hot for serving.
Once the apple juice or cider is warm, carefully pour it into a large mug. Leave enough room at the top for the whipped cream and caramel sauce. Using a large mug also makes the finished drink easier to stir and enjoy without the toppings overflowing.
Stir 1 tablespoon of homemade cinnamon syrup into the warm apple juice. Mix well so the cinnamon flavor spreads throughout the drink. If you enjoy a stronger cinnamon flavor, you can add more syrup according to your taste.
Place a generous spoonful of fresh whipped cream on top of the warm cider. The creamy topping gives the drink its luxurious, dessert-like character. If you make your own whipped cream, avoid overbeating it. The original recipe recommends stopping once soft peaks have formed.
Drizzle 1 tablespoon of caramel sauce over the whipped cream. If you're making homemade caramel sauce, allow it to cool and thicken slightly before adding it. This small step helps keep the warm caramel from immediately melting the whipped cream.
Serve the caramel apple cider immediately while the drink is warm and the whipped cream is fresh. I especially like enjoying it right after assembling it, when the cinnamon aroma, warm apple flavor, creamy topping, and caramel come together.