Bring water and sugar to boil in small saucepan on medium heat, stirring to dissolve sugar.
Remove from heat. Cool to room temperature.
(Red) Watermelon Layer
Pour syrup into blender container. Add watermelon and cover.
Blend on high speed until smooth. Using a measuring cup with a spout or the OXO measuring beaker, pour watermelon mixture popsicle molds to fill 1/3 of the way (for my popsicle molds, that means 0.8 ounce). Freeze for 1 1/2 hours or until set.
(White) Coconut Layer
In a measuring cup, mix together coconut milk, sugar water and coconut extract. Fill the freezer pop mold until it is 2/3 of the way full.
Add the aluminum top and add the popsicle sticks. Freeze for 2 hours or until set. At about 1 1/2 hours, remove the aluminum top and put popsicle molds back into the freezer.
(Blue) Raspberry Layer
Add sugar water mixture to another measuring cup. Stir in raspberry extract and add blue food color. Mix well. Pour into the freezer pop mold until full and freeze 4 hours or overnight or until firm. Follow manufacturer instructions on how to remove the popsicles.
After unmolding, popsicle sticks can be stored in zippered plastic bags in the freezer, use wax paper to keep them separated.