do donuts

to repeatedly drive (a car) in a circle

The police found out that the car that was doing donuts in the parking lot had no driver.

doing donuts

When you and your friends try to explain unplanned adventures, or being reckless, or being confused. Can be used in many contexts.

Korina: “Did you record the concert last night?”
Jezzy: “No sorry, I was doing donuts and forgot.”