yah, its pretty easy. just use the e-brake (circle). its pretty easy with FR cars. just stop the car, hold the e-brake, and turn the wheel, and punch the gas.
with some cars, u have to give it a little gas, and start it rolling forward before u hit the ebrake.
RWD cars-just hit the gas and turn, or rev it up(hold brakes or parking brake and gas, let car rev up, and let off brakes and turn)
FF cars-roll slowly, hold parking brake, hit gas, turn.
4WD cars-same as RWD cars but a bit of tweaking is needed to get it to work.
in simulation pick your car and go to the speed test. before you click start click settings(for your car), go to the second option(can't remember name)and click that. go to the far right option, and there are the options for ASM TCS.
This is what you do:
Grab a stock Nissan Skyline R34 V-spec, go to any roadtrack.
Okay, now fully steer to the right (or left) and keep punching the gas untill you feel you're losing traction and your skidding. Now just punch the gas and keep turning right (or left) and you're donutting.
I always love to do a little "victory spinout" at the end of races that I'm up by more than 3 seconds on. It's nice to rub it into the face of that damn AI