Whisk in 1 tablespoon (11 g) instant yeast and 1/3 cup (74 g) granulated white sugar.
Crack 2 whole eggs and add 1 egg yolk to a small bowl.
Whisk together 4.5 cups (675 g) all-purpose flour and 1 teaspoon (6 g) fine sea salt.
Add flour mixture three tablespoons at a time while mixer runs.
Continue adding flour until dough forms.
Reduce mixer speed to medium-low and knead for one minute.
Add 1/2 cup (115 g) softened unsalted butter and mix for five minutes until smooth.
Form dough into a rough ball, cover with plastic wrap, and let rise at room temperature for 1.5 hours.
Lightly flour a work surface, pat dough to degass, and roll into a rectangle about 3/4 inch thick.
Use a 3-inch biscuit cutter to cut out as many rounds as possible. Use a smaller cutter to remove center.
Knead dough scraps lightly together, let rest for five minutes, roll out again, and cut more donuts.
Cover shaped donuts with plastic wrap and let proof for 45 minutes until puffed.
Fill a heavy-bottom pot with vegetable oil slightly over halfway and heat to 350°F.
Pick up each donut with greased flat spatula and lay into hot oil. Fry 2-3 donuts at a time, 45 seconds to a minute per side.
Remove donuts from oil with wire rack and drain. Repeat with all donuts and holes.
Mix 5 cups (641 g) confectioner's sugar, 1/2 cup (118 g) hot water, 1 teaspoon (4 g) vanilla extract, and pinch of salt in large bowl until smooth.
Dunk cooled donuts in glaze, coat both sides, drain on wire rack, and repeat with all.
Soak 1/2 cup (15-20 g) cereal of choice in 1/2 cup (120 ml) whole milk at room temp for 10 minutes or overnight in fridge for maximum flavor. Strain out cereal, keeping the milk.
Prepare icing with 2 cups (250 g) powdered sugar and cereal milk until thick.
Dip top of cooled donut in cereal milk glaze, drain slightly, and top with correlating cereal.
For chocolate glaze, mix 2 cups (250 g) powdered sugar, 4.5 tbsp (24 g) cocoa powder, and pinch of salt. Whisk in 1/4 cup (40 g) cereal milk until thick.
For peanut butter drizzle, whisk 3 tbsp (64 g) peanut butter with 1/2 cup (47 g) powdered sugar. Thin with water until drizzable but thick.
Dunk a donut's one side in chocolate glaze, coat with cereal (Cocoa Puffs), and drizzle with peanut butter icing.