To prepare the chocolate syrup, combine the water, sugar, cocoa powder, vanilla extract, and salt in a small skillet set over medium heat. Whisk vigorously until the sugar is dissolved and the cocoa powder is thoroughly incorporated into the mixture, approximately 2-3 minutes. Remove from heat.
Add a large spoonful of chocolate syrup to each serving glass and top with enough club soda to fill each glass halfway. Divide the ice cream between the glasses and top with additional chocolate syrup.
To serve, top each ice cream soda with a generous amount of whipped cream, mini-chocolate chips, and a maraschino cherry. Enjoy!