In a shallow bowl, mix granulated sugar and cinnamon; set aside.

Heat butter and oil in a large skillet over medium heat until bubbling.

Add angel food cake cubes in a single layer (work in batches if needed); fry, turning gently, for 2–3 minutes per side until golden‑crisp and slightly puffed.

Using a slotted spoon, transfer hot cubes to the cinnamon‑sugar bowl and toss to coat evenly.

Repeat with remaining cake cubes, adding more butter and oil as needed.

Arrange churro bites on a serving platter and serve warm with chocolate or caramel dipping sauce if desired.