I've never been a fan of mimosas: Orange juice covers up the nuances of good Champagne, so most people pour really cheap bubbly into them. Try a good California sparkling wine, like Chandon, if you're not up for buying the expensive stuff. There's a range of great California sparklers out there.
As for the cocktail, I've lightened things up with lemon juice and given it a stiff, boozy orange backbone in the form of Cointreau. Serve it for New Year's Day brunch—you'll need it.
To learn more, read "Before Midnight."
Recipe by Jim Meehan, Tasting Table Drinks Editor, for The Centurion Lounge, DFW
Yield: 1 cocktail
Prep Time: 5 minutes
Cook Time: N/A
Total Time: 5 minutes
¾ ounce Lillet Blanc
¾ ounce Cointreau
½ ounce fresh lemon Juice
4 ounces Moët Imperial Champagne, to top
Orange twist, for garnish
In a cocktail shaker, combine all of the ingredients over ice. Shake until well chilled and strain into a chilled coupe. Top with champagne and garnish with the orange twist.