Thaw puff pastry sheets at room temperature for 30 minutes.
Heat oven to 400 degrees F. Grease baking sheets.
Stir together egg and water in a small bowl.
Unroll 1 sheet of puff pastry on lightly floured work surface. To prevent drying out, cover remaining pastry sheet with plastic wrap, until ready to use. Roll first sheet into 14 x 10-inch rectangle. Cut pastry in half lengthwise into 2 rectangles, about 14 x 5 inches each. Brush both halves of pastry with some of egg mixture. Top one half with chocolate chips. Spread other half with jam. Place jam half over chocolate chip half, jam side down. Roll gently with rolling pin to seal edges.
Cut crosswise into 28 strips, about 1/2 inch wide and 5 inches long. Twist strips twice; place on greased baking sheets, about 2 inches apart; press ends lightly to sheet. Carefully brush twists with a little of the egg mixture.
Bake in 400 degree F oven for 10 minutes or until nicely browned. Remove twists to wire rack and let cool slightly. Serve warm or at room temperature.
Unroll second sheet of puff pastry and proceed as above, coating one half of pastry with the sugar and cinnamon. Top with other half; cut, twist and bake as directed above. Makes 56 pieces (28 of each of two varieties).