Although this recipe does not require the tedious process of rolling out layers of butter and dough, as is done in the Racine kringle bakeries, the result is similar and very good.

Ingredients
1 package active dry yeast
1/4 cup warm water (110  F. to 115  F.)
1/2 cup cold butter
2 cups all-purpose flour
1/2 teaspoon salt
1 tablespoon sugar
1/2 cup warm milk (110 deg. to 115 deg.)
1 egg beaten
Nut Filling (recipe follows)
Glaze (recipe follows)
2 tablespoons chopped pecans or walnuts 

Directions                                         
In a small bowl, dissolve yeast in warm water.
Using a pastry blender or two knives, in a large bowl, cut butter into flour and salt until particles are the size of small peas. Add yeast mixture, sugar, warm milk, and egg; beat until smooth (dough will be very soft). Cover and refrigerate at least 2 hours but not more than 24 hours.

When ready to use, remove from refrigerator. Punch dough down and divide in half; return other half to refrigerator. On a well-floured board, working quickly before dough softens, roll into a 15 x 10-inch rectangle, approximately 1/4 to 1/2-inch thick (if dough gets too warm from handling, return to refrigerator).

Spread half of the prepared Nut Filling down the center of the rolled-out dough rectangle in a 2-inch strip. fold sides of dough over filling, overlapping 1 1/2 inches; pinch edges to seal. Shape into an oval; pinch ends together. Place seam side down on a large greased baking sheet. Repeat same process with remaining dough and filling. Cover and let rise in a warm place for 30 minutes or until double in size.

Preheat oven to 375 degrees F. Bake for 20 minutes or until golden brown. remove from oven and let cool for 15 minutes.
Spread prepared Glaze over kringles. Sprinkle with chopped pecans or walnuts. Serve kringles warm or at room temperature.
To re-warm, preheat oven to 300 degrees F. Slide a whole, uncut kringle onto a baking sheet lined with aluminum foil. Cover loosely with a large piece of aluminum foil and heat for 12 to 15 minutes. Remove from oven and remove aluminum foil before slicing.

Nut Filling:
1 1/2 cups finely chopped pecans or walnuts
1 cup firmly packed brown sugar
1/2 cup butter, room temperature
In a large bowl, combine pecans or walnuts, brown sugar, and butter.

Glaze:
1 cup powdered sugar
5 teaspoons water
1/2 teaspoon vanilla extract
In a medium bowl, combine powdered sugar, water, and vanilla.

Source:  Linda Stradley – What’s Cooking America
History of the kringle here:  http://www.edining.ca/viewarticle.asp?ID=284