Preheat the oven to 350°F. Generously grease a bundt pan with nonstick spray or softened butter.

Open the biscuit cans and cut each biscuit into quarters.

Combine the granulated sugar and cinnamon in a large bowl or zip-top bag. Add the biscuit pieces and toss until evenly coated.

If using nuts, sprinkle some into the bottom of the pan. Layer half of the coated biscuit pieces into the bundt pan, add more nuts if desired, then top with the remaining biscuit pieces.

In a small saucepan over medium heat, melt the butter. Stir in the brown sugar and cook for 1 to 2 minutes until smooth and glossy. Remove from the heat and stir in the vanilla extract.

Pour the butter and brown sugar mixture evenly over the biscuit pieces in the pan.

Bake for 35 minutes, or until deep golden brown and cooked through. If needed, loosely tent with foil near the end of baking to prevent overbrowning.

Cool in the pan for 10 minutes.

Place a serving plate over the pan and carefully invert the monkey bread onto the plate. Serve warm.