COMBINE evaporated milk, water, sugar and cinnamon stick in medium, heavy-duty saucepan. Bring to a boil over medium-low heat, stirring constantly with wooden spoon, until a temperature of 240° F. is reached. (This will take approximately 45 to 65 minutes.) Adjust heat as needed to avoid boilover. Remove from heat once temperature is reached.
REMOVE cinnamon stick. Stir vigorously periodically (it will lighten in color slightly) until mixture cools, thickens some more and can be handled. To speed the cooling process, hot mixture can be carefully divided into two bowls and stirred.
LINE baking sheet with wax paper. Use pastry bag with wide tip to form 2 to 3-inch long candies (legs). If pastry bag is not available, pieces of candy can be rolled with hands, dusted lightly with flour to prevent sticking. Allow to dry at room temperature. Store in tightly covered container. Makes approximately 24 to 30 candies.