Preheat the oven to 375°F. Spray a round cake pan or baking dish with cooking spray. In a small bowl, mix the sugar and cinnamon together and set aside.
Roll the crescent roll out flat and smooth the seams so there are no perforations. Brush the dough with the melted butter and sprinkle the cinnamon sugar mixture over the butter.
Carefully roll the dough into a log and, using a serrated knife, slice the roll in half. Next, slice the two halves in half. Finally, slice each roll in half again so you have 8 rolls. Arrange the rolls, cinnamon swirl side up, in the prepared baking pan. Bake for 12-15 minutes, or until the rolls are lightly browned on top.
While the rolls are baking, make the glaze. In the same small bowl used to make the cinnamon sugar mixture, combine the powdered sugar, water and vanilla. Stir to combine. The glaze should be thin enough to drizzle over the rolls. If it needs thickening, add a small amount of powder sugar. If it needs to be thinner, add a little more water.
After the rolls have baked, drizzle the glaze over the top – about 1/2 teaspoon for each roll. Serve warm.
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