Preheat oven to 375 degrees. Line a muffin pan with non-stick spray or 8 cupcake liners.
In a small bowl, combine the granulated sugar and cinnamon. Separate the biscuits and cut each one into 8 equal pieces. Toss the pieces into the cinnamon sugar mixture and place 8 of them into each muffin well or liner.
Place a small saucepan on the stove and melt the butter, add the brown sugar and water. Mix until everything is all melted and combined. Stir in the vanilla extract.
Pour a heaping tbsp. of the brown sugar and butter mixture over each of the muffins.
Bake for 12-14 minutes, until golden brown. Allow the muffins to cool for about 10-15 minutes, before removing from the pan.
Microwave the cream cheese frosting for 10 seconds, until it’s thinned out. Using a fork, drizzle the frosting all over your muffins. Serve warm or cooled! Store on the counter in a tightly covered container.