Put a cooling pack over the top of a baking tray. Put to the side.
Add the oil to a dutch oven on medium heat. Check the temperature of the oil with a candy thermometer. It needs to be at 350 degrees.
Cut out the middle of each biscuit and stretch the dough to make the hole and the biscuit wider. (about 1/2 inch)
Once the oil reaches temperature, put the donuts in individually and cook for 1 minute per side or until golden brown.
Put the cooked donuts on the cooling rack to let the oil drop off.
After all the donuts have been fried, turn off the heat on the stove and sift the powdered sugar into a large bowl.
Whisk in the vanilla, milk, and cherry flavoring. Taste and then add more as needed.
Grab the pink food dye and add the drops, adjusting as needed.
Grab each donut, dip it into the glaze, and then put it back onto the cooling rack.
Immediately add the sprinkles on top.
Let the donuts set for about 30 minutes to allow the glaze to set.
Notes
Plan on using about 4 cups of oil to fry. This will vary depending on the size of the dutch oven. But you do need to have about 3-4 inches of depth to fry.