Open the can of biscuits and separate them on a clean work surface. Use a small round cutter, about 1 inch in diameter, to cut a hole out of the center of each biscuit. Save the center pieces to make donut holes later!
Lightly grease the air fryer basket with cooking spray or a small amount of oil. Place the donuts in the basket in a single layer, making sure they do not touch. You may need to work in batches depending on the size of your air fryer.
Set your air fryer to 350°F (175°C). Cook the donuts for 5 to 6 minutes, or until they have puffed up and turned a beautiful golden brown. Carefully remove them from the basket and let them cool on a wire rack for a few minutes.
Divide your white frosting into three separate small bowls. Leave one bowl white. Add a few drops of yellow food coloring to the second bowl and orange food coloring to the third bowl. Stir each until the color is vibrant and even.
Once the donuts are cool to the touch, it is time to decorate. To mimic a candy corn, frost the outer edge of the donut with the yellow frosting. Apply a ring of orange frosting in the middle, and finish with a ring of white frosting around the center hole. Top with a few pieces of actual candy corn for the final touch.