In a bowl, dissolve yeast in warm water.
Add egg, sugar, and Bisquick.
Beat vigorously. Turn onto a cutting board dusted with Bisquick.
Knead until smooth.
Roll dough into a 16×9 inch rectangle.
Spread butter or margarine on top. Sprinkle on brown sugar, candied fruit, and chopped walnuts.
Roll up, beginning at the wide side. Pinch dough together to seal.
Place the sealed side down on a greased baking sheet. Pinch ends together to form a ring.
With bakery scissors, cut 2/3 through at 1-inch intervals. Turn each section outward on its side.
Cover and let rise to about double in size.
Heat oven to 375 degrees.
Bake for 15 – 20 minutes.
Test with a toothpick for doneness.
Make an icing with confectioner’s sugar and a little milk.
Dribble icing over the coffee ring.
Decorate with candied cherries and walnut halves.