In a large mixing bowl, add the flour, baking powder, salt and cinnamon and mix to integrate.
Add the butter to the flour mixture and combine with your fingers until the mixture becomes crumbly.
Add the sugar, vanilla extract and water. Using your clean hands, mix well, until all dry ingredients are incorporated and the dough begins to come together.
Turn dough out onto a lightly floured work surface and knead for 5-6 minutes until the dough is nice and smooth. Place the dough back into the large bowl, cover with plastic wrap or a clean kitchen towel and allow to rest for at least 15 minutes before proceeding.
Form the dough into 14 to 15 equal in size balls, then roll into smooth balls.
On a clean surface, roll each dough ball piece into a rough circle, about 6-7 inches in diameter, until thin and almost transparent. To prevent the disk sticking to the rolling pin, keep the work surface and rolling pin lightly floured.
On a hot skillet, pre-cook the disks for about 10 seconds each side. Set aside and get ready to fry them.
Heat oil to 350ºF (175ºC) in a deep frying pan. About 1 inch high. When the oil is hot, carefully place each rolled dough into the hot oil. Fry until both sides are golden brown. Note: Use a spatula to flatten the center as you cook them. This will help for them to stay flat.
Remove the fried buñuelos and let them drain on paper towels.
While still warm, coat them in a mixture of sugar and cinnamon. Serve right away!