zerothread/139711
DoughnutsThe principle of doughnuts is simple: Put one end of your car around the other one with the drive wheels spinning as many times as you want/can before you are sick. Sound like fun? It is.
Rear Wheel DriveSee the section on burnouts for starting a RWD donut. First of all, get your burnout started, and then slowly release the brake until you start moving forward. Start to turn the wheel and release the brake pedal more, and as you accelerate more, turn the wheel to full lock and back way off the brake. The car will lurch forward and turn sharply, and the back will fly around. Keep going onto the brake more as you start to slow down, so you can get more force for the next turn and release it more as you start to get thrown around. You can turn the wheel back the opposite way when you're going through a turn to just drift with the wheelspin if you like, and then turn to lock the other way for a nice reversal. It's really up to you to experiment with different combinations of how you like to get the car moving, but that's the basics of it.
There's LOT's more info in the thread I linked (That's why it's there