Lay 8 wontons out on a flat surface. Add 1½ teaspoons of cream cheese and ½ teaspoon of chili sauce to center of each. Using your finger, dip in water and run around the outside edge of the wrapper. Fold it over to make a triangle and press the edges together. **You need a good seal all the way around.
In a large frying pan add enough oil to be ½ inch deep. Once it has reached 350degF, start adding a few wontons flat on one side. Let cook 1-2 minutes (should be golden) then flip and fry a minute more. Remove to a baking rack over a paper towel. Repeat with remaining wontons. Serve with extra sweet chili sauce, if desired.