Donut's dinosaur-training project, and one of her stated reasons for refusing to flee the floor.
The pageant is Donut's counterweight to catastrophe. When Carl proposes going down the stairs before The Butchers Masquerade, Princess Donut answers with two objections in the same breath: fleeing only means the next fifty crawlers get fed to a country boss instead, and besides, she has already started training Mongo for the beauty pageant.
That she raises it alongside an argument about mass death is entirely in character, and it is also strategy — the pageant is an event she intends to win, and she is not walking away from it because The Valtay bought a corporation.
A pet pageant on the floor's event schedule, and Donut's active project for Mongo.