1.) A very happy time, characterized by extreme jubilation, often to the point of near retardation.
2.) Any time around 4-5 in the morning, as doughnuts require constant attention and hours of work to produce.
1.) BOB:"Hey Jerry, its Christmas"
JERRRY: "YAY! It's time to make the doughnuts!"
2.) "Whew, alright, a time around 4 or 5 in the morning. Time to make the doughnuts, brother."