1. Sprinkle the unflavored gelatin over the cold water in a small bowl and let it sit for 5 to 10 minutes until bloomed.

2. In a medium saucepan, combine the eggnog, heavy cream, granulated sugar, nutmeg, and salt. Warm over low to medium-low heat, whisking often, until the sugar dissolves and the mixture is hot but not boiling.

3. Remove the saucepan from the heat and whisk in the bloomed gelatin until fully dissolved.

4. Stir in the vanilla extract and mix until smooth.

5. Pour the mixture through a fine mesh strainer into a measuring cup or bowl for an extra silky texture.

6. Divide the mixture evenly into 4 small ramekins, molds, or dessert glasses.

7. Refrigerate for at least 4 hours or until softly set. Overnight chilling works even better.

8. If unmolding, dip the bottom of each mold briefly in warm water and gently loosen the edges before inverting onto a plate.

9. Garnish with fresh cranberries or maraschino cherries, a light dusting of nutmeg, and star anise if desired.

10. Serve chilled.