Pour oil in skillet and warm to medium heat. (About a half inch of oil.)
Lightly salt and pepper squash slices.
Mix flour and garlic powder in a shallow dish.
In another shallow dish, beat eggs with buttermilk.
In a third dish, combine bread crumbs with cayenne.
Dredge squash through the flour, then the eggs, and then the bread crumbs.
When oil is hot, add a few slices at a time. Don't crowd them. Cook about 2-3 minutes, turning once. Drain on paper towels. Sprinkle with Parmesan.
Serve with your favorite dipping sauce.