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Quickly accelerating the car and then yanking the wheel so the car spins. Works well with snow and mud, after a rain. Not recomended for cars that tip easily.
We wanted to cause some trouble so we did some donuts in the quad to tear up the grass.
donuts by frog4lunch November 6, 2003

time to make the donuts

Time to go to work. Applies generally, to any task/activity. Or, to leave home for one's place of employment. Usually expressed in a dreary, I'd-really-rather-stay-home-and-masturbate kinda way.
Man kisses wife as he grabs his keys. "Time to make the donuts."

Time to make the donuts

Meaning to start work, from the Dunkin Donuts commercials where Fred the Baker would state "time to make the doughnuts" when leaving home for work.
"Time to make the donuts." quipped the gun-for-hire, as he squared off with his target.

Bumping Donuts

a phrase used to describe the act of two holes or openings pounding or touching each other. See also Donut Bumper - one who participates in/enjoys bumping donuts.
Ellen DeGeneres enjoys bumping donuts.

That Rosie O'Donnell is a real donut bumper.
Bumping Donuts by Will C. December 12, 2003

Dunkin' Donuts

Massachusetts is home to many 'Dunkin' Donuts' and 'McDonalds'.
Dunkin' Donuts by Diggity Monkeez January 30, 2005

rub donuts 

lesbian sex involving the contact or stimulation of one vagina by another, aka scissoring
"hey baby wanna rub donuts"

or

"ew i'm not a lesbian, i don't rub donuts"
rub donuts by Leo "Hyphy" Bay Area November 27, 2007