Step 1: In a medium saucepan, combine the water, butter, 2 tablespoons granulated sugar, and salt. Bring to a rolling boil over medium-high heat, stirring until the butter is melted and sugar is dissolved.
Step 2: Remove the saucepan from the heat. Add the flour all at once, stirring vigorously with a wooden spoon or sturdy spatula until a thick dough forms and pulls away from the sides of the pan. Continue to stir for about 1 minute to dry out the dough slightly.
Step 3: Transfer the dough to a large bowl and let it cool for 5-10 minutes.
Step 4: Add the eggs, one at a time, mixing thoroughly after each addition until fully incorporated and the dough is smooth and glossy.
Step 5: Heat about 2-3 inches of vegetable oil in a large, heavy-bottomed pot or Dutch oven to 350-375°F (175-190°C). Use a candy thermometer to monitor the temperature.
Step 6: Transfer the dough to a piping bag fitted with a large star tip. Carefully pipe 4-6 inch long strips of dough directly into the hot oil. Use kitchen shears or a knife to cut the dough from the piping bag.
Step 7: Fry 3-4 churros at a time for 2-3 minutes per side, or until golden brown and cooked through. Using tongs, carefully remove the churros from the oil and place them on a plate lined with paper towels to drain excess oil.
Step 8: In a shallow dish, combine the remaining 1/2 cup granulated sugar and ground cinnamon. While the churros are still warm, toss them in the cinnamon-sugar mixture until evenly coated.
Step 9: Serve immediately with your favorite dipping sauce, such as chocolate or dulce de leche.