On a lightly-floured board, roll the dough out to a rectangle about 16 by 11 inches and 1/8-inch thick. With the tip of a sharp paring knife, cut out six 5-inch circles, using a pot as a guide. Remove the dough scraps. Spread the cheese over half of each circle and then top with the guava, leaving a 1/2-inch border along the edge. Brush the edges with some of the beaten egg and then fold the dough over to enclose the filling. Seal the edges by pressing the top to the bottom with the tines of a fork. Chill at least 30 minutes before baking.
Preheat the oven to 350 degrees.
Place the empanadas on a baking sheet and brush the tops with the egg wash. Sprinkle with the cinnamon sugar. With a sharp knife, cut three small slits in the top of each for steam to escape. Bake 30 minutes, or until the dough is golden. Transfer to a cooling rack to cool slightly. Serve warm.. This recipe yields 6 servings.