Heat lightly greased skillet or large frying pan to medium-high. Stir pancake mix, water and cinnamon together in a medium bowl. Let sit at least two minutes.
Slice apples into thin rings. use tongs or a fork to dip apple rings in pancake batter, making sure to get both sides coated.
Cook batter covered rings for at least 90 seconds on each side until golden brown. Cook time varies based on apple and batter thickness.