In a large mixing bowl, combine 4 cups of all-purpose flour, ¾ cup of sugar, 1 teaspoon of salt, and 2 teaspoons of instant yeast. Incorporate 1 flaxseed meal mixed with 3 tablespoons of water, 1 cup of soy milk, ½ cup of warm water, and ¼ cup of melted margarine. Stir until well combined and knead for 5 to 10 minutes.

Shape the dough into a ball, place it in a greased bowl, cover with a damp cloth, and set in a warm place for about 2 hours or until doubled in size.

Transfer the dough to a floured surface, roll it out to about ⅓ inch thickness, and cut out donut shapes. Lay on a parchment-lined sheet, allowing to rest for an additional 20 minutes.

For frying, heat vegetable oil in a deep pan to medium-high (about 350°F) and fry donuts for about 5 seconds on each side. Alternatively, bake in a preheated oven at 390°F for about 15 minutes.

In a mixing bowl, whisk together 2 cups of powdered sugar and 3 tablespoons of soy milk until smooth. Add food coloring to create swirls.

Dip each cooled donut into the glaze or drizzle it over the top and sprinkle with edible glitter or sprinkles while the glaze is still wet.