Preheat oven to 350ºF
Mix cream cheese, powdered sugar, cinnamon and vanilla extract with mixer until well blended.
Roll our first can of dough onto parchment paper and scoop about 2 tbsp of cream cheese mixture onto the wide end of each triangle.
Fold in bottom corners of the triangle over cream cheese mixture, then roll long side of triangle around to make a sealed pouch.
Place crescent rolls on prepared baking sheet, seam side down.
Bake 13 to 15 min. or until golden brown.
Carefully remove the rolls from the oven an while they are cooling; mix together remaining powdered sugar and milk.
Spread on top of King Cake Bites and sprinkle with colored sugars. Be sure to sprinkle the icing as soon as you spread the icing on the rolls. The icing begins to harden as it cools and the sprinkles will not stick.