We have two choices for the first ingredient, which leaves us with four choices for the second ingredient, three choices for the third ingredient, two choices for the fourth ingredient, and one choice for the fifth ingredient. However, in half these choices, we added the milk before we added the water. Thus, the number of ways of making chocolate milk is $$\frac{1}{2} \cdot 2 \cdot 4 \cdot 3 \cdot 2 \cdot 1 = 24$$