Prep. Preheat the oven to 350°F. Grease a silicone donut pan (or donut tin) and place it on a baking sheet for easy handling.
Mix Wet Ingredients. In a large mixing bowl, whisk together eggs, sugar, vanilla, oil, and chocolate milk until smooth.
Combine Dry Ingredients. In a separate bowl, sift together flour, cocoa powder, baking powder, and salt.
Fold Together. Use a silicone spatula to gently fold dry ingredients into wet until a smooth donut batter forms. Avoid overmixing.
Fill the Pan. Pour or pipe the batter into the donut pan, filling each cavity about ¾ full.
Bake. Bake for 15 minutes, or until a toothpick inserted comes out clean.
Cool. Transfer donuts to a cooling rack and let cool completely before glazing.
Make the Glaze. In a shallow bowl, whisk powdered sugar, coconut cream, and peppermint extract until smooth.
Dip & Decorate. Dip each donut top-side down (donut upside) into glaze, then sprinkle with crushed candy cane or drizzle red icing. Place on a paper towel or rack to set.