In a 3.5 quart sauce pan fitted with a candy thermometer, heat sugar, corn syrup and water together over medium heat, stirring occasionally until sugar is dissolved, about 5 minutes. While sugar mixture is heating, prepare a baking sheet by lining it with heavy-duty foil and spraying with non stick cooking spray.
Increase heat to high and let candy mixture come to a boil until it reaches 300 degrees F (hard crack stage) on a candy thermometer. Remove from heat and stir in food coloring and cinnamon oil. Keep face away from steam and handle cinnamon oil carefully, it can irritate skin with direct contact.
Immediately pour candy mixture onto foil lined baking sheet and let cool completely. Once cooled, use kitchen mallet or heavy bottomed measuring cup to break up pieces. Sprinkle with powdered sugar.