Combine 1/4 cup water and sugar in a small microwave-safe bowl. Microwave on high for 30 seconds or until the sugar dissolves; cool. In a large pitcher, combine the grapefruit juice, lemonade concentrate, cherry juice, sugar mixture and remaining water. Chill. Serve over ice. Garnish with orange or lemon slices and cherries if desired. Yield: 8-10 servings (1-3/4 quarts).