Heat oil to between 350°F and 375°F in a deep fryer or a large pot on the stove. The temperature will fluctuate as you add the batter—that is ok!
In a large bowl, combine the flour and sugar.
Whisk the eggs together, then stir the eggs and the water into the flour and sugar mixture. Stir gently just until combined.
Use a cookie scoop to place the batter into the hot oil. I put about 5–6 spoonfuls into the oil at one time. Allow to cook for 2 minutes, or until deep golden brown. Then flip using a spider tool or slotted spoon. Sometimes the beignets will flip on their own.
Allow to cook for an additional 2 minutes, or until deep golden brown on the other side. Then remove using the spider tool or a slotted spoon. Place on a cooling rack to cool.
Serve warm or at room temperature with honey peanut butter.
Notes
Beignets are best served the day they are made. If you make them ahead, you can re-warm them by putting them in a 400°F oven for 5 minutes.