01 - Preheat oven to 350°F. Line a large baking sheet with parchment paper.
02 - Unroll crescent dough, separating into triangles. Arrange triangles in a long, curved line (pointed ends outward, overlapping long edges) to form a candy cane shape on the baking sheet. Press seams together gently.
03 - In a small bowl, mix cream cheese, sugar, and vanilla until smooth.
04 - Spread the cream cheese mixture down the center of the dough strip, leaving a small border. Spoon strawberry preserves down the center on top of the cream cheese.
05 - Fold the pointed ends of dough triangles over the filling, tucking under the outer edge to seal and maintain the candy cane curve.
06 - Bake for 15–18 minutes, or until the pastry is golden brown. Remove from oven and cool 10 minutes.
07 - In a small bowl, whisk powdered sugar, milk, and vanilla until smooth. Drizzle over the slightly cooled pastry.
08 - Immediately sprinkle with crushed peppermint candies and optional red sanding sugar. Let set for 5 minutes before slicing and serving.