Using a biscuit cutter, make circles out of the watermelon slices. Using the fondant circle, make holes in the middle of each donut. Place the chilled coconut cream into a bowl, separating the solid cream from the liquid. Discard the liquid. On medium speed, use an electric mixer for a couple of minutes until fluffy. Add vanilla extract and whip up for a few seconds. Spoon the coconut cream onto the top of the donuts. Garnish with sprinkles or toppings you’d like.