1Heat oven to 450ºF. Spray cookie sheet with cooking spray or lightly grease with shortening. In medium bowl, stir Bisquick mix, butter and granulated sugar until crumbly. Stir in milk until dough forms; beat 15 strokes.
2Drop dough by rounded tablespoonfuls about 2 inches apart onto cookie sheet. Make shallow well in center of each with back of spoon dipped in water; fill each with 1 teaspoon preserves.
3Bake 10 to 15 minutes or until golden brown.
4In small bowl, beat all vanilla drizzle ingredients with spoon until smooth, stirring in additional water if necessary. Spread over warm biscuits.