For the pancakes: Sift the flour and sugar together.
Add the milk, vanilla and eggs and mix until smooth. Divide the batter into smaller bowls. For each bowl, you will need about 1 teaspoon of flavor extract and 4 to 5 drops of gel food coloring. I recommend using food coloring gel which is brighter (regular food coloring will also work; you will just need to use a bit more). You can match it to the desired flavor; for instance, yellow for banana, red for raspberry, etc. Once you have flavored and colored your batter, it is time to cook the pancakes!
Heat a nonstick frying pan or griddle, melt some butter and pour the batter to create pancake rounds. For silver dollar pancakes, use about 1 tablespoon per pancake (adjust for desired size). Repeat with ingredients.
For the syrup: In a medium pot over medium heat, combine the maple syrup, rum, cinnamon and vanilla.
Heat until it comes to a boil, and then remove from the heat and set aside to cool.
Serve the pancakes warm with the syrup and extra butter if desired.