Thaw cake, cut into 3/4 in. slices. Cut each slice into four fingers, set aside. In a microwave bowl or saucepan heat water & butter until butter is melted. Whisk in sugar to make a thin glaze. Dip cakes into glaze to coat all sides; roll in coconut. Place on waxed paper to dry. Cover & refrigerate. Yield- 3 dozen.
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