Toss the sugar and cinnamon together on a shallow plate. Run a lime wedge around the rim of a cocktail glass. Dip and swirl the rim into the cinnamon sugar. Shake off excess.
In a shaker, combine the pumpkin butter, tequila, apple cider, agave (if using), Cointreau, and lime juice. Fill with ice and shake until cold.
Pour into the prepared cocktail glass. Garnish with apple slices, cinnamon stick, and star anise, as desired.