Combine water, milk, butter, sugar and salt in medium saucepan; bring to a boil.
Add flour slowly, beating briskly until thoroughly mixed.
Remove from heat.
Cool 5 minutes
Add the eggs, one at a time, beating after each addition till combined.
Cool dough slightly.
Heat ½ inch of oil to 365 degrees in a deep saucepan.
Place dough in a 12 inch decorating bag fitted with a star tip ½ in diameter.
Press out 3 inch lengths of dough onto waxed paper, carefully cutting off the flow of dough with a knife.
Fry four or five churros at a time for 2 ½ minutes or until slightly browned on all sides.
Drain on paper towels.
Cool slightly and roll in cinnamon sugar.