1 (8-ounce) can refrigerated biscuits
¾ cup (1 1/2 sticks) butter
1 teaspoon vanilla flavoring
1 cup sugar
1 cup milk
1/2 cup water
Preheat oven to 325 F.

Melt 1 stick of butter in a 9-x13-inch baking dish. Place biscuits in buttered dish. Pour sugar over biscuits; set aside. Mix milk, water and vanilla; pour over biscuits; then dot with remaining butter. Bake 20 to 25 minutes or until golden brown. After removing from oven, cut biscuits in half to soak up hot mixture. Let stand 10 minutes before serving.