To make King Cake Monkey Bread, start by preheating your oven to 350 degrees and spraying the inside of a bundt pan with non-stick spray.
Next, remove the biscuits from their tubes and cut each biscuit in half and then in half again so you have four pieces from each biscuit. In a small bowl combine brown sugar, pecans, vanilla extract, pecan pieces and a dash of salt. In a separate bowl, add the melted butter. Start by taking one piece of biscuit, dipping it in the melted butter and then rolling it through the brown sugar mixture. Lay in the bottom of the bundt pan and repeat until you have used up all of your biscuits. About half way through placing your biscuit pieces, add the plastic baby in your monkey bread and keep placing the biscuits around it.
Once you have used up your biscuits, bake for 40 - 45 minutes. Remove from oven and let sit for 15 minutes before running a butter knife around the outside of the monkey bread. Place a plate upside down on the top (bottom) of the bundt pan and firmly holding both, flip both the plate and the pan upside down so that your top is now your bottom. Give the pan a little shimmy and your King Cake Monkey Bread should slide right out. Let cool completely.
Once cool, add sifted powdered sugar, milk and vanilla to a medium sized bowl and using an electric mixer, beat until well combined. Drizzle the glaze over your monkey bread and decorate with yellow, green and purple sprinkles or sanding sugar. Serve immediately. Leftovers can be kept in an airtight container in the refrigerator.