Heat oven to 425 degrees F.
Mix Bisquick and cold water until soft dough forms; beat vigorously 30 seconds. Turn onto surface well dusted with Bisquick. Gently roll in Bisquick to coat; shape into ball. Knead 10 times. Roll or pat into a 14-inch circle.
Spread with butter; sprinkle with cheese. Cut into 12 wedges. Roll up, beginning at rounded edges. Place rolls, with points underneath, on ungreased cookie sheet; curve slightly.
Bake 10 to 12 minutes or until golden brown.