I spent almost the first decade of my life living just outside of New Orleans so I am very familiar with King Cake and Mardi Gras, but in case you aren't....

A traditional king cake is a cross between a coffee cake and a French pastry in the shape of an oval. It's decorated in three colors, purple to symbolize "Justice", green for "Faith" and gold for "Power" and these colors were chosen to resemble a crown to honor the wise men who visited Jesus on Epiphany (the visit of the Magi to Jesus). A small plastic baby is commonly hidden in a king cake. The person who finds the baby in their piece is named "King" for the day and must provide the king cake for the following year.
So there you go! I find it fascinating and fun!
I wanted my "children" to participate in the tradition so I adapted my dog birthday cake recipe to be a King Cake today!
This cake recipe is my dog birthday cake recipe, so it doesn't have to be just King Cake.
I make my dog cakes in a bundt pan but you may use whatever you like, just know the cooking time will differ depending on the pan you use.