To a saucepan, add sugar, water, and salt. Break the cinnamon sticks in half, and add to the saucepan.
Bring the saucepan over high heat and bring to a roaring boil.
Once boiling, add the rice to the saucepan, stir, and lower the heat to a simmer.
Simmer the mixture for 15 minutes, stirring every 5 minutes to prevent the rice from sticking.
After 15 minutes, remove the saucepan from the heat, and strain the rice and cinnamon sticks from the syrup using a strainer.
Add the vanilla extract into the syrup and stir to combine.
Allow the syrup to cool at room temperature for 1-2 hours before adding a lid and storing in the fridge for up to 3 weeks.