1. In a small pot, heat honey and saffron until honey is warm and starts to bubble around the edges. Remove from heat and let sit for 10 minutes.
2. In a medium pot, combine heavy cream, milk, cinnamon and vanilla. Whisk until well combined. Add honey and saffron mixture and whisk until well combined, then heat over medium heat until cream is hot but not boiling.
3. While the cream mixture heats, place the water in a small pot and sprinkle gelatin on top. Let sit for about 5 minutes, then heat and stir until the gelatin is fully dissolved.
4. Remove cream mixture from heat and stir in the gelatin mixture. Divide into 4 glasses or ramekins that hold about 2 cups and let cool to room temperature. Refrigerate for at least 6 hours or overnight.
5. To serve, drizzle honey on top. Serve in the glasses or ramekins or remove panna cotta by dipping each glass into warm water for 5 to 10 seconds, until panna cotta moves when the glass is shaken. Put a plate on top, flip the glass over and maneuver the panna cotta out.