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Step 1
In a medium saucepan, whisk together the cocoa powder and sugar until blended. Add the water and 1/4 teaspoon of the salt, and whisk over medium heat until boiling, stirring constantly.
Step 2
Continue boiling until mixture thickens, about 3 minutes. The mixture will still be fairly thin (it thickens to a syrup-like consistency once cool). Taste and stir in additional salt until dissolved, up to 1/4 teaspoon, if desired.
Step 3
Remove from heat and stir in the vanilla. Cool. Taste again. If it's not sweet enough for you, add a bit more sugar and stir in the warm syrup until dissolved.
Step 4
Store syrup in an airtight glass container in the refrigerator. The syrup should keep, refrigerated, for at least a month.