Chop cherries; set aside. Heat reserved cherry syrup, the pineapple, apricots and water to boiling in Dutch oven, stirring occasionally; reduce heat. Cover and simmer about 10 minutes, stirring occasionally, until apricots are tender.
Stir in sugar, lemon juice and cherries. Heat to rolling boil over high heat, stirring occasionally. Boil and stir 1 minute; remove from heat. Stir in pectin.
Immediately pour mixture into hot, sterilized jars or freezer containers, leaving 1/2-inch headspace. Wipe rims of jars. Seal immediately; cool. Refrigerate or freeze up to 3 months. Thaw before serving.