I'm pretty sure there are as many variants on the recipe as there are Dutch out there, but here's the recipe I use:
Olliebollen Recipe - yields about 2 dozen
1 Tbsp. quick rise yeast
1 cup milk
2 1/4 cups flour
2 tsp. salt
1 egg, room temperature
1 1/4 cups dried currants (raisins if you prefer)
1 thickly grated tart apple
Warm the milk to lukewarm. Combine the milk, 1 cup of the flour, salt, yeast, and egg together in a large bowl. Mix in the rest of the flour to form a thick batter. Stir in the currants and apple until well incorporated. Leave batter to rise in a warm place until double in size, about 40 minutes. It should look like this:
Heat enough vegetable oil to 375 degrees F to deep fry these olliebollen. (I use my electric wok set on high with about 1 1/2 inches of oil in it.) Drop the batter by tablespoon into the hot oil.
Happy New Year!