In the bowl of a stand mixer, combine warm milk, instant yeast and sugar. Stir gently, and let stand for approximately 5 minutes, or until foamy.

Add the butter or shortening, vanilla extract and eggs. Mix to combine.

Using the dough hook attachment, turn the mixer on low speed and slowly add in the flour.

Turn the speed up to medium, and knead until all of the flour is incorporated, and the dough pulls away from the sides of the bowl. If needed, add in 1/4 cup of additional flour at a time until the dough is only slightly sticky.

Transfer the dough to an oiled bowl, cover with plastic wrap. Allow the dough to rise until it has doubled in size, approximately 1-2 hours.

Turn the dough out onto a lightly floured surface. Roll and cut the donuts out using a donut cutter or ring molds.

Pre-heat oil to 350°F in a fryer or large heavy skillet. Carefully add the donuts, and fry until both sides are golden brown, flipping halfway through.

Carefully remove from the oil and drain on a layer of paper towels to cool.

Sift the powdered sugar and cocoa powder into a bowl.

Add the remaining ingredients and whisk well to combine.

In a small microwaveable bowl, heat peanut butter for 10-second intervals, until it is a runny consistency.

Dip the donuts into the chocolate glaze.

Place onto a baking rack on top of a cooking tray to allow the excess glaze to drip off, then drizzle with the peanut butter.

Add Cap’n Crunch’s Peanut Butter Crunch^® pieces and enjoy!