Hi @sirnemo,
So this is like a “tumbler” where the outer circle spins around, and the inner circle bounces around inside it? The execution will be a bit complex, but not impossible. Since you can’t “carve out holes” in Box2D physics bodies, you’ll need to construct the outer circle from several separate bodies. This gets inherently complex because you can’t have any concave bends in any one part, so you’ll need to do the best you can by constructing a large ring from many pieces.
Once you do that, the other part is straightforward enough… just put the smaller circle inside, start rotating the outer ring, and you’re done. 
Hope this helps,
Brent