In a medium bowl, whisk together the flour, sugar, baking powder, and a pinch of salt.
In a separate bowl, whisk the eggs, then add the sour cream and vanilla extract. Mix until smooth.
Pour the wet ingredients into the dry ingredients and mix until you have a soft but manageable dough.
Heat the oil in a deep skillet over medium heat until it reaches approximately 340-350°F (170-180°C).
Using a spoon, form small balls of dough and carefully drop them into the hot oil. Do not overcrowd the skillet.
Fry the doughnuts until golden brown, about 3-4 minutes, turning occasionally to ensure even cooking.
Remove the fried ponchiki and place them on a paper towel-lined plate to drain excess oil.
While still warm, sprinkle generously with powdered sugar and serve immediately!
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