Since you’re probably going to watch the sun come up, celebrate with a cocktail that is as good-looking as the view. In China, oranges and other citrus fruits are given as gifts on the New Year as a sign of prosperity and luck. That means this cocktail is as productive as it is pretty.
Pour the tequila and orange juice into a highball glass with ice or Champagne flute. Stir. Slowly pour the grenadine around the inside of the glass so it sinks and starts to slowly mix with the tequila and juice. Slowly top with Champagne. Garnish with orange and cherry if desired.