Cook sugar and balsamics over medium heat until sugar is dissolved and balsamic is reduced. Set aside and let cool.
In cocktail shaker, muddle strawberries, lime juice, and balsamic syrup until strawberries are completely dissolved. Add tequila to shaker and fill 2/3 full of ice.
Shake until well chilled, about 15 seconds. Using a strainer, pour into a serving glass filled with ice. Garnish with mint, orange or strawberry if desired.