Cut each biscuit into 4 pieces. Mix 2/3 cup sugar and 1 teaspoon cinnamon into paper bag. Drop 4-6 pieces biscuit dough into a bag and shake to cover evenly.
Put into buttered bundt pan. Repeat until all the dough pieces are used. Melt margarine in a small saucepan and add remaining sugar and cinnamon, then add vanilla. Bring to a boil, remove from heat and poor syrup mixture over biscuits.
Bake in preheated oven 350 degrees for 40 minutes. Remove from oven and invert onto platter.
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