For strawberry basil syrup:
Place sugar and water in large saucepan over medium heat, and stir until the sugar has dissolved and the mixture comes to a boil.
Once at a boil, add the strawberries and basil, reduce heat to medium low, and let mixture simmer for 10 minutes.
After 10 minutes, remove from heat and let cool to room temperature, about 45 minutes.
Once at room temperature, strain the mixture from a fine-mesh strainer.
Discard the solids and set the syrup aside, or refrigerate until ready to use.
To make the lemonade:
Pour the water, lemon juice, and 1 ½ cups of strawberry basil syrup into large (3 qt) pitcher or punch bowl, and stir to combine.
Do a taste test, and add more syrup if needed.
Add ice and garnish with strawberry slices and basil leaves.
Enjoy!