The process of taking a powdered jelly doughnut (generally from a local Dunkin Donuts) and then ejaculating inside of the doughnut after fucking it and feeding it to an unsuspecting victim.
Alex: "Hey Nick what did you do for senior prank day this year?"
Nick: "I gave Brandan a Taunton Cream and he loved it! Haha."
Peter: "Lets Taunton Cream Nate when he's high!"