Start by adding the sugar, salt, vinegar, and water to saucepan. On medium heat, bring to a simmer, and cook just until the sugar dissolves, about 5 minutes. Remove from the heat.
Next, add in the bay leaf fennel and mustard seeds, and the peppercorns. Let this come to room temperature.
Next, add the rhubarb spears into your pickling jar.
Pour the pickling mixture into the jar and fill to the rim.
Cover with the lid, and place in the refrigerator. Now you can eat these in a few hours, but I think they really begin to shine after a few days. They are a bit sweet and tart which is what you would expect, but then you get the pickled flavor that just goes great with any rich type of food.