Peel shrimp, leaving tails intact; devein, if desired. Set aside.
Stir together 1 cup baking mix and 1 cup beer until smooth.
Stir together remaining 1 cup baking mix, salt, and ground red pepper. Dredge shrimp in dry mixture, and dip in beer mixture, allowing excess coating to drip. Gently roll shrimp in flaked coconut.
Pour vegetable oil to a depth of 3 inches into a Dutch oven or heavy saucepan, and heat to 350°. Cook shrimp, in batches, 1 to 2 minutes or until golden; remove shrimp, and drain on paper towels. Serve immediately with Mustard Sauce.