Pour hot water into a bundt pan and add apple rings (cut in half if needed to make them fit). Place in the freezer for 3-5 hours until completely frozen. If you don't use the entire apple, save some of the rings.

Place apple wedges, cider, cinnamon sticks and nutmeg in a saucepan and bring to a boil, uncovered, over medium-high heat. Remove from heat and let stand for 20 minutes. Pour mixture into a large bowl and stir in honey until dissolved. Cover and refrigerate for at least 3 hours. Overnight is fine, too.

Strain cider into a punch-bowl. Save cinnamon sticks for garnish. Add bourbon and lemon juice and stir to combine. Pour in soda water then place ice ring in bowl and garnish with additional apple rings and left over cinnamon sticks.