Display Circle That Follows Cursor?

Okay, so I am making a whiteboard program. So far I managed to generate the ability to draw lines and other small things. The problem is that I want to make a circle that follows the cursor to display what a dot there would look like. I am aware of the creategraphics property of picture boxes, but when I do that the circle stays there and a new one is generated where the mouse is now (an expected result). My question is, is there a way to draw and delete circles as the mouse moves.