One of the most popular Traditions of Mardi Gras is the baking of a special cake in honor of the three kings..."A King's Cake."  Legend has it that the cakes were made in the shape of a ring and colorfully decorated to resemble a bejeweled crown. 

Originally the ritual of hiding a tiny treasure in a celebratory cake was a symbolic reenactment of  the Epiphany.  In France, the bean was replaced by a bean-sized baby Jesus; its discovery commemorated the discovery of Jesus' divinity by the Magi. On Twelfth Night, the celebrants would wait until the stroke of midnight to cut the cake.  Each week a new king and queen were crowned (the finder of the hidden trinket would get to choose his or her consort).  The reigning queen would host the next soirèe at her home; the king, however, was expected to pay the bill.

Tradition has now evolved to obligate the person who receives the baby (inside every King Cake!) to continue the festivities by hosting another king cake party.