STEP 1:
1 stick butter
1 c. flour
2 tbsp. water

STEP 2:
1 c. water
1 stick butter
2 tsp. almond extract
1 c. flour
3 eggs

STEP 3:
2 c. confectioners sugar
1 stick butter, softened
Bit of milk
1 tsp. almond extract
Slivered or sliced almonds
Maraschino cherries

STEP 1: Cut butter into flour, add water, form into a ball. Shape dough into a large donut ring. Put on large ungreased cookie sheet and flatten.

STEP 2: Bring to a boil 1 cup water, add butter; remove from heat. Add extract, quickly beat in flour then eggs, one at a time, beating well after each egg. Spread the mixture onto the ring shaped pastry. Bake 1 hour at 350 degrees.

STEP 3: Cool. Make frosting by adding first 4 ingredients and mix well. Frost. Decorate with almonds and cherries.