In a medium saucepan, combine the water, butter, cinnamon, and cloves. Bring to a boil and stir in flour and sugar. Mix with a wooden spoon and, reducing the heat to low, continue cooking for about 1 minute. Mixture will form a ball.
Remove the dough from the heat, and stir in the 5 eggs, one at a time, making sure each is fully incorporated before adding the next. Set aside to cool slightly.
In a heavy pot, heat about 2 inches of canola oil until the temperature reaches about 375 degrees Fahrenheit.
Spoon some of the churro dough into a pastry bag fitted with a large star tip or a plastic freezer bag with a hole cut in one corner.
Squeeze approximately a 4 inch strip of dough into the hot oil, cutting it from the pastry bag with a small knife. Repeat, adding churro dough until there are about 4 strips frying.
Fry the churros until golden brown, about 5 minutes, turning them over halfway through.
While the churros are frying, combine cinnamon sugar ingredients in a small bowl.
Transfer the cooked churros to a paper towel lined plate to drain.
Dredge each churro in the cinnamon sugar mixture and place onto a serving platter.
Make the Chocolate Dipping Sauce
In a small saucepan, bring the heavy cream to a boil. Remove from heat, and add the chocolate chips, whisking gently until the chocolate melts.