Spray a baking sheet with olive oil spray, or line it with wax paper.
In a saucepan, add the water, butter, sugar, and salt. Bring to a slow simmer.
Continue to simmer and then add flour to the saucepan.
Stir constantly with a rubber spatula and cook until the dough comes together and is smooth.
Remove the dough from the stove and place the dough into a mixing bowl. Let excellent for about 5 minutes.
Mix the eggs and vanilla extract using an electric hand mixer or mix until the dough forms.
Place the dough into a piping bag.
Pipe churros onto the baking sheet into 4 to 5-inch lengths.
Refrigerate the churros until cold and solid, about an hour.
Place the cold churros into a greased air fryer basket. Being careful not to overcrowd the basket.
Air fry at 375 degrees F for 10-12 minutes until golden brown.
In a small bowl, mix the sugar and ground cinnamon.
When the churros are done air frying, coat them with the sugar/cinnamon mixture.
Optional: Serve warm with Nutella or chocolate dipping sauce.
Plate, serve, and enjoy!