To make sugar water, place water and sugar in a saucepan over medium-high heat and stir until sugar has completely dissolved. Set aside until completely cooled.
In a small bowl, combine 1 cup of sugar water and cherry syrup. Fill up each popsicle mold 1/3 of the way. Freeze for at least 2 hours.
In a small bowl, combine ¾ cup of the sugar water, coconut milk, and lime extract. Pour over the frozen red layer until the popsicle mold is 2/3rds full. Place aluminum foil to cover the tops of the molds. Put a small slit in the center of each mold and insert the popsicle sticks. Freeze for at least 2 hours.
Mix together 1 ¼ cups sugar water, blue raspberry extract, and blue food coloring. Remove the aluminum cover and fill each popsicle mold to the full line. Freeze for at least 2 hours.