Pour the water into a large measuring cup with a spout. Sprinkle the unflavored gelatin over the water, and let the gelatin bloom for 15 minutes, until completely dissolved.
Pour half of the gelatin into another pitcher with a spout and add a splash of cherry juice (from the jar of maraschino cherries) and one drop of red food coloring and stir well.
Add the cherry layer to the shot glasses, filling them about a third of the way up, with the cherry mixture. Place in the refrigerator for 30 minutes to cool.
Mix up the yellow layer, add gelatin, Bailey's colada, pineapple juice, and orange juice, stir well. Then add 1 drop of yellow food coloring and stir well.
Pour the yellow layer on top of the cherry layer and fill each jelly shot cup to the top. Place them in the refrigerator for 30 minutes to cool.
Place a Maraschino Cherry on the top of each shot glass before serving.
Serve, and Enjoy!
Nutrition information is a rough estimate only; actual values will vary based on the exact ingredients used and amount of recipe prepared.