Generously dust an 8x8 inch non-stick pan with icing sugar and set aside.
In a large mixing bowl, add cold water & gelatin and allow too set while you make the syrup.
In a small sauce pan combine the sugar, corn syrup & salt. Cook over medium heat until sugar has dissolved. Bring the heat to high and cook until syrup bubbles and reaches 240 degrees on a candy thermometer.
With the mixer on low, slowly pour the syrup into the gelatin. Raise the mixer speed to high and whip until mixture is thick and glossy, about 15 mins. Add vanilla, candy cane and mix well.
Pour marshmallow mixture into dusted pan and smooth the top. Dust with additional icing sugar and allow to rest uncovered overnight until set.
Turn the marshmallows over on a cutting board and cut into 16 squares. Dust with additional icing sugar and additional candy cane pieces!
To make hot cocoa, in two mugs, add 1 tbsp in each of cocoa and honey. Stir 1 tbsp in each of steamed milk until creamy. Divide remaining steam milk in each and add your favourite spirit or liqueur and stir. Top with marshmallows and dust with icing sugar if using.