Make the Batter:
In a medium bowl, whisk together flour, cornstarch, baking powder, and salt.
In a separate bowl, mix milk (or water), egg, and vanilla.
Gradually whisk wet ingredients into the dry until a smooth, pancake-like batter forms. Let sit for 5–10 minutes.
Heat the Oil:
Heat oil in a deep saucepan or fryer to 350°F (175°C).
Line a plate with paper towels for draining.
Dip & Fry:
Dip each marshmallow into the batter, coating completely.
Carefully drop into hot oil and fry for 10–15 seconds, just until golden and puffed.
Remove quickly with a slotted spoon and drain on paper towels.
Don’t overcrowd—fry in small batches for best results.
Serve Warm:
Dust with powdered sugar or cinnamon sugar, or drizzle with melted chocolate or caramel.
Best enjoyed immediately while still gooey inside!