Go grab a pair of super comfy jersey leggings from f21 for around $5.
put on the leggings and mark where you want your circles and how big with sewing chalk. Doesn't have to be perfect here.
If you have a circle drawing problem, make some quick templates out of cardboard and grab something circular to trace. Cut out with xacto knife or box cutter (careful please).
Trace these circles over where you originally marked while they were on you.
Grab a very sharp pair of shears and cut out the circles.
If you're worried about fraying use some of that anti-fray stuff you can buy at fabric stores. it shouldn't fray though.
Can be found at 80spurple on sale for $47.00 originally