Soften yeast in lukewarm water. Combine flour, sugar, nutmeg and salt in mixing bowl. Stir in lemon rind. Make a well in the center of the flour mixture and pour in the yeast mixture and milk. Add eggs and egg yolks and with a large wooden spoon gradually incorporate dry ingredients into liquid mixture. Beat in 1/2 cup butter and continue beating until dough forms ball. (Mixing of the dough can be done in a food processor). Place ball on floured board and incorporate more flour if necessary, by sprinkling it over ball by the tablespoon. Knead until smooth and elastic. Brush inside of large bowl with 1 T softened butter. Set dough in bowl and turn it so as to butter entire surface. (At this point you can refrigerate dough overnight.) Cover bowl and set aside for 1 1/2 hours or until doubled in bulk. Brush a large baking sheet with remaining butter. Punch dough down on lightly floured surface. Knead, then pat and shape dough into a cylinder about 14 inches long. Place on baking sheet and form into a ring or oval. Press bean, coin, or baby into dough so that it is hidden. Set aside again to rise. When ready to bake, brush the top and sides of the ring with the egg-milk wash. Bake in the middle of the oven at 375 degrees for 25 to 30 minutes, or until golden brown. Slide cake onto a wire rack to cool. Icing: When the cake has cooled, prepare the icing. Combine the confectioners sugar, lemon juice and 3 T of water in a deep bowl and stir until the icing mixture is smooth. If too stiff to spread, beat in 1 tsp. water at a time, until desired consistency is reached. With a small metal spatula, spread the icing over the top of the cake, allowing it to run down the sides. Colored Sugar: Sprinkle the colored sugars over the icing immediately, forming a row of purple, yellow, and green strips, each about 2 inches wide. Do both sides of the ring. Arrange the two cherry halves at each end of the cake, pressing them gently into the icing. Posted to Bakery-Shoppe Digest V1 #499 by Lee Ann Hamm on Jan 10, 1998