Heat oven to 375°F. Separate each can of dough into 10 biscuits. Arrange in 3 rows on cutting board. Using pizza cutter, cut each biscuit into quarters.
In small bowl, stir together melted butter and taco seasoning mix.
Working with a few biscuit pieces at a time, dip pieces into butter mixture, turning to coat. In ungreased 12-cup fluted tube cake pan, arrange 1 can of dipped biscuit pieces in a single row. Sprinkle with 1/2 cup of the cheese. Add second can of dipped pieces; sprinkle with remaining 1/2 cup cheese. Top with remaining can of dipped biscuit pieces.
Bake 25 to 30 minutes or until golden brown. With knife, loosen bread around edge of pan. Place serving plate upside down over pan; turn plate and pan over. Remove pan. Serve warm or cold.