1. Let the saffron steep: Heat the water slightly in a small saucepan, cool it down and add the saffron threads. Leave to infuse for 10-15 minutes to allow the colour and aroma to develop. 2. Combine ingredients: Add apple juice, orange juice and the saffron water to a larger saucepan. Add the cinnamon stick, cloves and star anise. 3. Warm: Heat the mixture over low-medium heat. Do not boil so that the flavors are preserved. Stir occasionally and let the spices steep for about 15-20 minutes. 4. Sweeten: Add honey or sugar and stir well until dissolved. Adjust the sweetness to taste. 5. Add rum (optional): If you want an alcoholic version, add the rum after heating before the punch is served. 6. Serve: Pour the punch into heatproof glasses or cups and decorate with fresh orange or apple slices.