The following recipe comes from the Nosher via My Jewish Learning:
Ingredients for dough (1 color):
1 cup warm water, 110º F
1/4-oz packet active dry yeast
1 1/2 Tbsp granulated sugar
2 1/2 cups all-purpose flour, plus more for dusting
1 tsp salt
1/2 tsp gel paste color
1 tsp vegetable oil
12 cups water
Strawberry Funfetti Cream Cheese
1 cup of hulled strawberries
8 oz plus 2 Tbsp of whipped cream cheese
1/4 cup confectioners’ sugar
1/3 cup rainbow sprinkles (or more…probably more)
To make each layer of color dough:
Combine the water, 1 packet of yeast, and 1 1/2 tablespoons of the sugar in the bowl of a stand-up mixer fitted with a dough hook. Stir and let stand until foamy, about 5 minutes. Gradually add 2 cups of flour, salt, and gel paste color. Mix until the mixture comes together. Add the rest of the flour slowly until it forms a stiff dough.
Turn dough out onto a lightly floured surface and knead until the dough is no longer sticky, adding flour as needed.
Grease a large bowl with 1 teaspoon of vegetable oil and place the dough into the bowl, turning to coat. Cover and let slowly proof in the refrigerator as you continue to work on each batch.
Repeat with as many colors as you want to use. When done with the final color, bring the bowls of dough out of the refrigerator and let come to room temperature for approximately 30 minutes.
Punch down the dough and re-roll each batch into a ball. Then flatten into 1-inch-thick rectangles.
Stack the colored dough on a lightly greased baking sheet. Let dough proof for another 45 minutes, until the layers meld together.
Flip the dough onto a cutting board and slice 1-inch-by-6-inch-thick strips. Twist dough to create a spiral and join the ends. Repeat with remaining dough. Place on a lightly greased surface, cover with a clean cloth, and let rise until almost doubled in a draft-free spot, approximately 20-30 minutes.
Preheat oven to 400ºF and grease a baking sheet with oil.
In a large pot, bring 12 cups of water to a boil. In batches, boil the bagels for 30 seconds to 1 minute, turning once. Place boiled bagels onto prepared sheet pan and bake for 5 minutes. Turn bagels over and bake for an additional 8 – 12 minutes for mini bagels (15 – 18 for larger bagels). They will color slightly but not brown. Remove from oven and let cool on a wire rack.
Strawberry Funfetti Cream Cheese:
Mix the whipped cream cheese with the confectioners’ sugar and set aside. Puree strawberries in a food processor or with a immersion blender. Mix about 3/4 cup puree into cream cheese mixture until combined. Next, add the sprinkles and stir. If you feel the cream cheese mixture is too runny, add one of your additional tablespoons of whipped cream cheese and stir until desired consistency.