Preheat oven to 350 degrees F.
Heat milk to 110 degrees and dissolve yeast in milk.
Melt butter and cool; add to milk/yeast mixture.
Beat eggs, vanilla, salt and flour together; add milk mixture and blend well until dough forms.
Turn out dough on floured surface and knead well, approximately 5 minutes.
Place dough in large bowl coated with cooking spray; cover with a cloth and let rise in a warm place for approximately 2 hours.
When dough has risen, punch down and allow to rise again for 1 hour.
Remove dough from bowl and shape: You can divide dough into thirds and braid. Curl dough around to form a ring and place in a greased and floured 9″ round baking pan. Or, you may just leave dough in a long braid and bake on a greased baking sheet.
Sprinkle top of dough with sesame seeds (optional) and place red-dyed hard-cooked egg in center of bread ring, or in one end of the bread braid (you may add more eggs as you like).
Bake in a 350 degree oven for approximately 45 minutes or until bread is golden brown.