Artemisia absinthium is also excellent for flavouring schnapps. A simple recipe:
Pick wormwood, put it in a jar and cover it with vodka (preferably no more than 32% alcohol). Let it rest for a week. Filter the essence through a coffee filter, pour it into a bottle and let it rest for half a year. A sediment will settle on the bottom. Carefully decant the essence without disturbing the sediment and mix it with 9 parts vodka. Serve ice cold in tiny glasses. It goes with everything, but is especially nice with seafood. After a couple of bottles you might even begin to like it.
Wormwood is the most traditional schnapps herb in Sweden, although nowadays most people seem to prefer cumin aquavit (yuck!). Wormwood schnapps was considered to have magical properties and it can cure anything from acne to housemaid's knee. Of course, this is according to the people that thought vodka was "liquid bread" and stated that "only drunkards have more than 24 glasses a day."