The shape is called a torus. You can make it or any other circular symmetrical object by centering a profile on a circular path. It doesn't have to be in contact or even the same size...just share the centre of rotation. Then you simply select the circular path and click on the profile with the Follow Me Tool. It's called lathing.
If you only want a partial lathe, not the full 360 degrees then you can manually drag the profile around the path with the Follow Me tool. You have to be careful when doing this, though, because of the way that SU calculates the change of course between the segments on the circle. You can end up with a face that isn't orientated at the angle you expected it to be. It's often easier to do the full 360 then delete the section you don't want...either directly, or after having done an Intersect with a "negative" shape.
lathing.jpg