1. Fill a deep frying pan 1 1/2 inches deep with vegetable oil. Heat to medium-high heat.
2. In a medium bowl, combine the water and baking mix. Using a wooden spoon, beat for about 3 to 4 minutes, until the mixture becomes spongy and uniform. Using a pastry bag, pipe 5-inch long strips of batter into the hot oil. For best results, fry only a couple at a time. Cook until golen brown, then drain on paper towels. In a small bowl or saucer, stir together the sugar and cinnamon. Dip fried churros in the sugar to coat. Serve hot.