Prepare an 8-inch square pan by lining it with parchment, set aside.
Combine the sugar, corn syrup, sour cream, butter, and salt in a medium pan over medium heat. Cook the mixture while stirring to dissolve the sugar. Continue to cook until the sugar mixture reaches 234 degrees F (soft ball stage). Then, remove the pan from the heat, and allow to sit untouched for about an hour.
Once the pan has cooled to about 120 degrees F, add the extracts and cherries. Beat with a wooden spoon or electric mixer for 5 to 10 minutes until the fudge is thickened and loses its gloss.
Spread in the pan, and allow the fudge to set for about an hour or until firm. Then, cut and serve!