Combine the first 4 ingredients in a saucepan; heat until butter melts, stirring occasionally. Let mixture cool to 105 or 115 degrees.
Dissolve yeast and 1 tbs. sugar in warm water in a large bowl; let stand 5 minutes. Add butter mixture, eggs, and 2 cups of flour; beat at medium speed with an electric mixer for 2 minutes or by hand until smooth. Gradually stir in enough remaining flour to make a soft dough.
Turn dough out onto a lightly floured surface and knead until smooth and elastic (about 10 minutes). Place in a well-greased bowl, turning to grease top. Cover and let rise in a warm place free from drafts for 1 hour or until dough is doubled in bulk.
Combine 1/2 c. sugar and cinnamon; set aside.
Pinch dough down and divide it in half. Turn one portion of dough out onto a lightly floured surface, and roll to a 28"x10" rectangle. Spread half of the butter and half of the cinnamon mixture on the rolled out dough. Roll dough, jelly roll fashion, starting at the long side. Gently place dough roll, seam side down, on a lightly greased baking sheet. Bring ends of dough together and form an oval ring. If you have access to a tiny plastic baby, tuck it into the seam before you seal it. Moisten and pinch the edges together to seal.
Repeat this procedure with the second half of the dough.
Cover and let rise in a warm place, free from drafts, 10 minutes or until doubled in bulk.
Bake at 375 degrees for 15 to 20 minutes or until golden.
To make the colored frosting: Combine powdered sugar and melted butter. Add milk to reach desired consistency for drizzling; stir in vanilla. Divide frosting into 3 batches, tinting one with green, one with yellow, and combining blue and red for purple frosting. Makes about 1 1/2 cups.
Decorate each cake with bands of colored frostings and sprinkle with colored sugars.