This was served at the old Sazerac Hotel in New Orleans. It has the color of a hot summer sunset in the Crescent City, and the complexity of the Crescent City police blotter...
1Pernod (rinse the glass, then drain the excess)
1 dsAngostura Bitters
3 dsPeychaud's Bitters (for color and complexity)
2 ozRye Whiskey
To make an authentic Sazerac Cocktail:
Coat an old-fashioned glass with absinthe, Pernod, or similar. Discard the excess.
Muddle a sugar cube and the teaspoon of water in the bottom of the glass.
Add one dash of Angostura Bitters and three of Peychaud's Bitters.
Add a few ice cubes.
Add two ounces rye whiskey and serve.
There are various whiskeys purporting to be the "original" whiskey of the famous Sazerac cocktail. Some of them are way overproof - you'll want to adjust the proportions to keep this marvelous invention in balance. It is more important to get a rye with a rich, spicy flavor profile that you like than to spend extra for something with excellent marketing and dubious authenticity.