Place cupcake mix in bowl. Add buttermilk, oil and egg. Mix until blended.
Spoon the batter into the pan. You can also place batter into a pastry bag or ziplock. Cut off the tip and pipe into the donut pan.
Bake 8 to 10 minutes or until doughnuts spring back when touched. Cool in pans 10 minutes; remove to cooling rack. Cool completely.
Meanwhile, in small bowl, stir frosting and water with spoon until smooth. Frost with Hershey's Cookie Dough Frosting; sprinkle with cookie sprinkles and crushed peppermints.