Preheat oven to 325 degrees F. Generously spray donut pan with non stick cooking spray.
Stir dry ingredients together in mixing bowl. Add egg, buttermilk, vegetable oil and vanilla. Using a mixer on medium speed, blend until smooth.
Spoon batter into donut pan or place batter into a piping bag and pipe the donut batter into the donut pan (this is my preferred method).
Bake for approximately 11-13 minutes or until a toothpick inserted into donut comes out clean. Allow to cool slightly and remove carefully from pan.
Add a dusting of powdered sugar, a glaze or chocolate frosting (and sprinkles) if desired. Top with Peeps for even more fun!