1. Whisk together flour, water, beer, egg and salt until a smooth batter forms.
2. Heat canola or vegetable oil in a large straight-sided pan, using a thermometer. Bring the oil to 350 degrees over medium-high heat.
3. Working in batches, dip the slices of squash into the batter, then carefully add to the pan of oil. Flip squash, after a minute or so, and cook until the batter just begins to brown. Place cooked squash on paper towel to drain, then serve hot with dipping sauces.