Combine water, vinegar, and Old Bay in a stock pot. Bring to a boil.
Drop a steamer basket into the stock pot and add the shrimp. Return the liquid to a boil and cook for 2-3 additional minutes.
Drain, remove shells, and de-vein. Chill if desired.
You will need a steamer basket to make these steamed shrimp. If you don't have one, you can also drop the shrimp right into the cooking liquid and boil them. The texture will be a bit different, but they will taste pretty similar.I prefer to eat these shrimp hot, right out of the pan, but a lot of people (including my husband) prefer to eat them chilled as in a shrimp cocktail.I also like to serve these with cocktail sauce which is made from ketchup and horseradish.