Warm the milk until comfortably warm (not hot). Stir in 1 teaspoon sugar and the yeast. Let sit 5–10 minutes until foamy.

In a large bowl, whisk together the remaining sugar, eggs, melted butter, orange zest, and the yeast mixture.

Mix in 2 cups of flour and the salt until combined; add remaining flour 1/2 cup at a time until a soft dough forms.

Turn dough onto a lightly floured surface and knead 6–8 minutes until smooth and elastic.

Place the dough in a lightly oiled bowl, cover with a clean towel, and let rise in a warm spot until doubled, about 1–1.5 hours.

Punch down the dough and roll into a 12×18-inch rectangle. Spread softened butter across the surface, sprinkle the brown sugar and cinnamon mixture evenly, and scatter pecans if using.

Roll the dough tightly from the long side into a log. Pinch the seams to seal.

Shape into a ring on a parchment-lined baking sheet, pressing ends together. If hiding a trinket, wrap it and insert it now.

Cover and let rise 30–45 minutes until puffy. Preheat oven to 350°F (175°C).

Brush lightly with egg wash if you’d like a golden sheen. Bake 25–30 minutes until the cake is golden brown and sounds hollow when tapped.

Cool slightly. Whisk powdered sugar with orange juice until smooth. Drizzle over warm cake and sprinkle colored sugar or food-colored glazes for a festive touch.