Some babies like the taste of it, but the actual calming benefits of traditional gripe water were pretty much obliterated when alcohol was removed from the formula!!
In older times- gripe water was a godsend to mothers with fretfull babies, but, it contained alcohol, which was pretty much .T.H.E effective ingredient. In most places gripe water no longer contains any.
Some babies like it, and will happily have a nice drink of water if it has gripe water in it, or like one of the other poster's mentioned, enjoy a suck of it on their soother.
Do whatever works for you.
I found cooled camomile tea quite calming with my second baby.