Preheat the oven to 375 degrees. Prepare a round baking pan or flat baking sheet with a light coating of cooking spray.

In a large frying pan over medium heat, brown the ground beef until cooked through, about 5 minutes. Drain off fat.

Return meat to the pan and add the taco seasoning and water. Cook for an additional two minutes or until thick and bubbly. Remove from heat.

Add the shredded cheddar cheese and stir until melted.

Unroll the crescents and tear apart at the seams. Arrange them them in a circle, wide edges in the center and slightly overlapping (like a sun). Press down to seal.

Carefully spoon the taco meat onto the dough around the inner part of the circle, piling up until all the meat is used.

Wrap the pointed edge of the dough triangle up and over the meat, pinching in the middle to seal.

Bake for 20 minutes or until the taco ring is lightly golden brown.

To serve, place a bowl in the center of the ring and fill with toppings or simply fill the empty center with desired toppings and serve.