Joanne Rierson's Banana Pudding

1 box SMALL (3oz) vanilla pudding

1 box Eagle Brand Sweetened Condensed Milk

1 l/4 cup cold water

Beat and put in the fridge

When thickened, fold in 1/2 carton of Cool Whip

Layer with Vanilla Wafers and bananas

Top with Cool Whip or whipped cream