It might look like and smell like the real thing, but don't eat it! Candice Ware makes a variety of tasty treats (for you to wear) for her Etsy shop CandiWare Jewelry. Her jewelery "is made with Fimo, and specially scented to give each piece that extra bit of magic!". Her pieces include "coffee and donuts, tea and cookies, or delectable cupcakes".
As a huge fan of many baked goods, I picked up a Hawaiian Donut ring for myself at the Spring One of a Kind Craft Show. It looks exactly like a yummy donut from Tim Horton's and smells like one too!