Heat the vegetable oil in a deep skillet or frying pan over medium-high heat until it reaches 350°F.
In a large bowl, combine the flour, paprika, garlic powder, onion powder, salt, black pepper, and cayenne pepper.
Dip each onion piece into the buttermilk, allowing excess to drip off, then dredge in the flour mixture, ensuring each piece is well-coated.
Carefully place the coated onion pieces into the hot oil, frying in batches to avoid overcrowding. Fry for about 3-4 minutes or until golden brown and crispy.
Remove the fried onions with a slotted spoon and place them on a paper towel-lined plate to drain excess oil.
Serve warm with your favorite dipping sauce, such as ranch or spicy ketchup.