THAW the pastry sheets at room temperature for 40 minutes or until they’re easy to handle. Heat the oven to 350°F. Line 2 baking sheets with parchment paper.
UNFOLD 1 pastry sheet on a lightly floured surface. Roll the sheet into a 16 x 8-inch rectangle. Cut the pastry into 8 (4-inch) squares. Repeat with remaining pastry.
SPREAD 1 tablespoon of the apricot preserves in the center of each square. Using a sharp knife, make a diagonal cut from each corner of the square to within 3/4-inch of the preserves. Fold over every other point towards the center, overlapping points and pinching to seal. Place the pinwheels, 2 inches apart on the prepared baking sheet. Sprinkle with cinnamon-sugar.
BAKE for 20 minutes or until golden brown. Remove the pinwheels from the baking sheets and cool on a wire rack.
TIP: To make cinnamon-sugar, mix 1/3 cup granulated sugar and 1 teaspoon ground cinnamon in a small cup.