• To make the dough, pour the flour, sugar, salt, and yeast into the bowl of stand mixer with dough attachment.
• Turn on lowest speed for 30 seconds to evenly distribute.
• Slowly drizzle in warm water, milk, melted butter, and eggs to the flour/yeast mixture all at once.
• Beat on low to medium speed until the dough starts to pull away from the sides of the bowl. (about 3 minutes)
• Add in sprinkles and mix for 30 more seconds, or until mostly distributed.
• Remove dough from mixer, shape it into a ball with your hands and place it in a greased bowl that is at least twice as large as the ball of dough. Turn the dough over once to grease the entire surface.
• Cover the bowl with plastic wrap that’s been sprayed with nonstick cooking spray. Let it rise until doubled in size. (You can also place in the refrigerator overnight.)

Coating

• Preheat oven to 350 degrees F.
• Melt butter in a medium bowl. Add in granulated sugar and extracts. Set aside.
• Generously spray the bottom and sides of a Bundt pan.
• Punch the dough down by pushing your fist into the center and then start pulling the edges into the center. (Have fun with this!)
• Pull apart dough into small pieces about an inch across. Roll in your hands to create smooth, uniform dough balls.
• Place one layer of dough balls into Bundt pan, then pour one-third of the melted butter mixture over.
• Repeat this process until you have used all the dough and butter mixture.
• Bake for 30 to 35 minutes or until golden brown on top. Cover with foil if the top browns too quickly. (You want to make sure the sugar granules melt completely)
• While monkey bread is cooking, prepare glaze.

Glaze

• Beat cream cheese with powdered sugar until smooth and light. Add milk and vanilla, and mix until fully incorporated. If the glaze seems too thick, add more milk. If the glaze seems too runny, add in a bit more powdered sugar. You are looking for a gravy-like consistency where the glaze will fall over the sides of the monkey bread but not spill off completely.
• Remove monkey bread from oven.
• Cool for 10 minutes in the pan and then invert onto serving plate. (Make sure the plate is bigger than the pan and that the pan is cool enough to handle.)
• Whisk glaze briefly, then pour over monkey bread. Garnish with more sprinkles.