We study the variability of the cataclysmic variable DO Dra, on time-scales of between minutes and decades. The characteristic decay time dt/dm=0.902(3) days/mag was estimated from our 3 nights of CCD R observations. The quiescent data show a photometric wave with a cycle about 303(15)d. We analyzed the profile of the composite (or mean) outburst. We discovered however, that a variety of different outburst heights and durations had occurred, contrary to theoretical predictions. With increasing

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... aximum brightness, we find that the decay time also increases; this is in contrast to the model predictions, which indicate that outbursts should have a constant shape. This is interpreted as representing the presence of outburst-to-outburst variability of the magnetospheric radius. A presence of a number of missed weak narrow outbursts is predicted from this statistical relationship. A new type of variability is detected, during 3 subsequent nights in 2007: periodic (during one nightly run) oscillations with rapidly-decreasing frequency from 86 to 47 cycles/day and a semi-amplitude increasing from 0.06 to 0. 10, during a monotonic brightness increase from 14. 27 to 14. 13. This phenomenon was observed only during an unusually prolonged event of about 1 mag brightening in 2007 (lasting till autumn), during which no (expected) outburst was detected. We refer to this behaviour as to the transient periodic oscillations (TPO). To study this new and interesting phenomenon, new regular photometric and spectral (in a target of opportunity mode) observations are required.