Heat sugar and water in a medium sauce pan over medium heat just until sugar melts, then turn off. While water is heating, slice beets very thin using a mandoline or v-slicer. Add beet slices to the simple syrup and let stand for 15 minutes. Drain for 5 minutes, then lay beets on in a single layer on a silicone baking mat lined baking sheet. Bake at 250 degrees for 1 hour, then let cool. Store in a covered container to retain freshness.
Only use red beets for making beet chips as the lighter colored beets will turn gray and oxidize. Although they still taste good, they look unappetizing!