In a saucepan, combine water, sugar, salt, and oil. Bring to a boil.
Remove from heat and stir in flour until a dough forms. Let cool slightly.
Transfer dough to a piping bag fitted with a large star tip.
Wrap parchment or foil into cone shapes and secure with tape.
Pipe the dough around each cone form to create spirals.
Heat oil in a deep fryer or pot to 350°F (175°C).
Fry cones until golden brown, turning occasionally.
Drain on paper towels, then roll in cinnamon-sugar while warm.
Cool cones completely before filling.
Add scoops of ice cream into each cone.
Top with banana slices, strawberries, whipped cream, and hot fudge.
Sprinkle with chopped nuts or sprinkles and finish with a cherry.