In a medium saucepan, mix water, butter, sugar, and salt. Bring to a gentle boil over medium heat, stirring occasionally to melt everything together perfectly.

Once boiling, remove the pan from heat and stir in the flour until a soft dough forms. Let it cool for about 5 minutes, allowing the steam to escape.

Add the eggs and vanilla extract into the dough, mixing thoroughly until your mixture is smooth and well-combined.

In a deep skillet or pot, heat about 2 inches of oil to 350°F (175°C). Use a thermometer for accuracy.

Apply the churro dough to a piping bag fitted with a large star tip.

Carefully pipe strips of dough directly into the hot oil, cutting them to your preferred length with scissors.

Fry the churros for about 2-3 minutes on each side, or until they turn a gorgeous golden brown.

In a shallow bowl, mix granulated sugar with ground cinnamon. While the churros are still warm, roll them in this mixture until they're fully coated.

In a small saucepan, heat heavy cream over medium heat until it just begins to simmer. Remove from heat, and stir in the chocolate chips and vanilla extract until the mixture is smooth.

Arrange the churros on a serving plate and serve the warm chocolate dip in a small bowl alongside.