Cut each biscuit into quarters and roll into small balls.
Heat oil in a deep skillet or pot over medium heat.
Carefully fry the dough balls in batches until golden brown, about 2–3 minutes per side.
Drain the fried bites on a paper towel-lined plate.
In a bowl, mix sugar and cinnamon. Roll warm bites in the cinnamon-sugar mixture.
Drizzle or dip each bite with Nutella. Sprinkle chopped nuts if using. Serve immediately.