Prepare your margarita glass by rubbing the rim with a lime wedge and dipping it into sugar if desired.
Place cotton candy into the glass for visual effect (optional).
In a shaker, combine tequila, triple sec, lime juice, simple syrup, and ice.
Shake vigorously until well chilled.
Strain the mixture into the prepared glass over fresh cotton candy or ice.
Garnish with more cotton candy or a lime wedge, and serve immediately.