Separate biscuits and lay flat on a cutting board. Using an apple corer or bottle top, cut out a small circle in the center of each biscuit, forming donut shapes
In a soup pot over medium-high heat, heat 1-inch of oil until hot but not smoking. Cook donuts in batches for 1 to 2 minutes per side, or until golden. Drain on a wire rack. Let cool
Slice doughnuts in half horizontally and place a scoop of ice cream on bottom half of each donut. Place donut top over ice cream and gently press down
Place frosting in a small re-sealable plastic bag; snip off one corner of bag. Drizzle frosting over donuts and garnish with sprinkles and candies. Serve immediately or wrap individually in plastic wrap and place in freezer until ready to serve