This is a great one for kids.
Buy a package of 'ready to cook biscuits. The ones in the can.
Have the kids get out several plates ... put cinnamon and sugar together on one. Powdered sugar on another, then have frosting ... and sprinkles ready!
Now get a pan out and some vegetable oil. Put a few inches on oil in the pan and turn on the heat. Let the oil heat up .. it is ok if it starts to bubble. When it does this turn the heat to meduim.
While you waiting for the oil to heat let the kids shape the biscuits .. cut the centers .. roll them twist them whatever they want to do.
When the oil is hot .. drop in a biscuit or two on the top. Wait til the downside browns a bit. Then flip it over and brown the other side. When both sides are browned drop them in the desired flavor of topping. Make sure the kids have a spoon to flip them so they aren't touching the hot donuts.
The whole process is quick .. and the donuts are great and the kids will love it! My kids like to make them and play like they have a 'donut shop' Its great fun ... and cheap .. and they taste even better with a nice glass of apple cider or milk!