Preheat oven to low broil. Place marshmallows on a baking sheet near the top where they will brown.

Heat milk and water in a sauce pan over medium heat for about five minutes or until it is warmed through. Stir continuously to avoid scalding the milk.

Cut a marshmallow in half. Rub the sticky side of the marshmallow around the top of the mug. Roll/dip the sticky rim in graham cracker crumbs.

Pour the hot chocolate into the mug and top with whip cream, toasted marshmallows and a drizzle of chocolate syrup.