Line a 15-in X 10-in X 1-in baking pan with foil and butter the foil; set aside. In a large heavy saucepan, combine water, sugar, corn syrup and food coloring. Bring to a boil over medium heat, stirring occasionally. Cover and cook for 3 minutes to dissolve sugar crystals. Uncover; cook on medium-high heat, without stirring, until a thermometer reads 300F (hard-crack stage), about 25 minutes.
Remove from the heat; stir in cinnamon oil (keep face away from mixture as odor is very strong). Immediately pour onto prepared pan. Cool completely, about 45 minutes.
Break into pieces using the edge of a metal mallet. Sprinkle both sides of candy with confectioner's sugar. Store in airtight containers.