Preheat oven to 425 degrees F (220 degrees C). Grease a baking sheet and spread potato nuggets onto sheet.
Bake in the preheated oven, stirring halfway through cooking, until golden brown and crispy, 25 to 35 minutes.
Whisk cold water and gravy mix together in a saucepan; place over medium heat and cook, stirring frequently, until gravy comes to a boil. Reduce heat and simmer for 1 minute. Remove gravy from heat.
Place potato nuggets on a serving platter, sprinkle cheese curds over potato nuggets, and pour gravy over the top.
