Remove biscuit dough from can and separate into 8 biscuits. Using a small (1 1/2 inch), round cookie cutter, cut 3 rounds from each biscuit. Let stand at room temperature for 30 minutes for dough to soften.
Heat oil to 350°F. Fry 6 doughnut holes at a time in deep, hot fat for 2 to 2 1/2 minutes or until deep golden brown, turning halfway through cooking with a slotted spoon. Drain on paper towels. Repeat with remaining doughnut holes.
Toss doughnut holes in powdered sugar to coat or dip in Powdered Sugar Glaze to coat completely. Serve with fresh fruit.