In covered 4-quart saucepan, heat water to boiling over high heat. Remove saucepan from heat. Add tea bags to water and let steep 15 minutes. Discard tea bags. Add sugar and stir until dissolved. Refrigerate at least 2 hours or up to overnight.
To serve, transfer chilled tea to punch bowl. Stir in pineapple juice, lemonade concentrate and almond extract. Stir in liquor, if desired. Add ice cubes. Thinly slice lemon and add to punch bowl for garnish.