Place cinnamon stick, star anise, cardamom pod, bay leaf, ginger, and garlic into a small saucepan. Add oil and turn the heat to medium-low.
Simmer for 20-30 minutes until the ginger and garlic start to brown. Keep the temperature between 250-275°F.
Add Sichuan chili flakes, cayenne pepper, sesame seeds, salt, sugar, and soy sauce to a heatproof bowl.
Before pouring the oil, increase it to at least 280°F. Carefully pour the oil over and stir well. Let it cool down until the bowl is no longer hot to touch.
To store, transfer the chili crisp to a mason jar and keep it in the fridge for up to 3 months. Enjoy!