Boil the fresh or thawed squid rings in lightly salted water in small portions until they have stretched (maximum 20 seconds). Remove immediately and dry on paper towels.
Break the egg and separate it. Process all ingredients from egg yolk to sugar into a sluggishly liquid dough. Fold in the whipped egg whites. Pull the rings through the dough and bake in the 210 degree deep frying oil until golden and serve hot.