In a large bowl, combine the applesauce, milk, brown sugar, egg substitute, vanilla, and cinnamon. Fold in the bread cubes and apple; let stand for 15 minutes or until the bread is softened.
Pour into an 8-inch square baking dish coated with cooking spray. Bake uncovered for 35-40 minutes or until a knife inserted near the center comes out clean. Serve warm with whipped topping and caramel topping. Refrigerate leftovers.