Preheat oven to 350°. Lightly grease a cookie sheet.
In a large bowl, combine oats, flour, peanut butters, water, canola oil and egg.
Lightly flour a flat, clean surface and roll the mixture out to about ¾ inch thickness. Cut mixture using a canine-themed cookie cutter and place on a prepared cookie sheet. Bake for 20 minutes on one side and then flip the treats over and bake an additional 20 minutes. Remove to cooling racks and let cool thoroughly, about 2 hours. They will harden as they cool.