Combine Pomegranate Balsamic Vinegar, limeade, sparkling water and tequila in a cocktail shaker or in a glass with a top and shake well to combine. (You can add in 2 Tbsp of Lime Olive Oil here or float on top of finished glass. If making frozen, add all ingredients to blender and blend well with ice to taste.)
Pour Lime Olive Oil in a shallow dish, leaving 2 Tbsp aside, and generously coat the rim of the glass in olive oil.
Roll oiled glass rim in a shallow bowl of sugar.
Pour mixture into each glass, garnish with lime wheel and mint leaves.