Activate the Yeast: In a small bowl, combine the warm milk, yeast, and a pinch of the granulated sugar. Let it sit for 5-10 minutes until foamy.

Mix the Dough: In the bowl of a stand mixer fitted with a dough hook, combine the remaining granulated sugar, flour, and salt. Add the activated yeast mixture, eggs, orange zest, and lemon zest. Mix on low speed until a shaggy dough forms.

Knead the Dough: Increase the speed to medium-low and knead for 8-10 minutes, or until the dough is smooth and elastic. Gradually add the softened butter, a tablespoon at a time, kneading until fully incorporated after each addition. The dough should pull away from the sides of the bowl.

First Rise: Transfer the dough to a lightly oiled bowl, cover with plastic wrap, and let it rise in a warm place for 1.5 to 2 hours, or until doubled in size.

Prepare the Topping: While the dough rises, cream together the softened butter and confectioners' sugar until smooth. Gradually mix in the flour until a paste forms. Cover and refrigerate.

Shape the Rosca: Punch down the risen dough. Turn it out onto a lightly floured surface and gently shape it into a large oval or ring, about 12-14 inches in diameter. If using, tuck the plastic baby figurines into the dough at this stage.

Second Rise: Place the shaped dough on a baking sheet lined with parchment paper. Cover loosely with plastic wrap and let it rise for another 45-60 minutes, or until puffy.

Decorate: Preheat your oven to 350°F (175°C). Gently spread the prepared topping mixture over the risen dough, avoiding covering the holes completely. Decorate with the candied fruits, pressing them gently into the topping.

Egg Wash and Bake: Brush the entire bread (dough and topping) with the beaten egg wash. Bake for 30-40 minutes, or until golden brown and cooked through. If the topping starts to brown too quickly, loosely tent the rosca with foil.

Cool and Serve: Let the Rosca de Reyes cool completely on a wire rack before slicing and serving.