You can save money by using the least expensive generic brand of vegetable oil for frying these onion rings. Corn and canola oils are usually priced the lowest. To economize, buy the largest bottle.
6 cup oil
1 1/2 cup milk
2 large onions, cut into 1/2-inch-thick rings
2 cup all-purpose flour
2 tsp salt
1/2 tsp pepper
1/2 tsp cayenne pepper
Heat oil in an electric deep fryer or large pot to 375 F, or until a bread cube browns in 1 minute. Combine milk and onions in a large bowl; stir well.
Combine flour, salt, pepper and cayenne pepper on a plate or sheet of waxed paper. Coat onions in flour mixture, shaking off excess.
Lower onions gently in hot oil with metal tongs. Fry, turning once, until onions are browned and crisp, about 3 minutes per batch.
Drain onions on a paper towel-lined plate. Serve immediately.
Onion Rings cleanup tip: Prevent clogging your sink drain and dispose of the used oil in a quick way. Pour the completely cooled oil into an empty container with a tight-fitting lid.