In classic French cookery, a beignet is the same thing as a fritter. The starting point for this is choux pastry—the same soft dough used to make cream puffs or profiteroles, but without sugar.
In a saucepan over medium-low heat, blend the milk with the water. Cut the butter into chunks and add it to the water. When the water comes to a boil, remove it from the heat.
Add the flour and stir it into the liquid with a wooden spoon until well blended. Return to low heat and continue to stir until the mixture pulls away from the sides of the pan.