Maraschino is a clear liqueur made from marasca cherries (including pits/stems in traditional production), which creates a distinct almondy, floral, slightly funky cherry character. It’s not the same as “maraschino cherry syrup.”
In cocktails it’s used in small amounts because it’s intense: cherry blossom, bitter almond, and a perfumed sweetness. Compared with cherry liqueurs that taste like candy, maraschino tastes more botanical and dry-leaning.