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Preheat the oven to 350°F. Lightly grease (or line with parchment) a baking sheet that's at least 18" x 13"; or a 14" round pizza pan.
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To make the base: Mix together the butter, flour, and salt in a medium bowl until crumbly. Add the water a tablespoon at a time, mixing to make a soft, sticky dough.
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Wet your hands, pick up the dough, and shape it into a 12" x 8" oval ring on the baking sheet; or a 10" ring in the pizza pan. This will be messy going, but just keep wetting your fingers and pushing it into a ring. An easy way to approach this is to first divide the dough into four pieces; roll each piece into a 9" rope, then connect the ropes and shape them into a ring.
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To make the pastry: Place the water, butter, and salt in a medium saucepan over medium heat and bring to a boil. Add the flour all at once and stir vigorously until the mixture is cohesive and forms a ball. Transfer the batter to a mixing bowl and beat in the eggs one at a time, beating until each egg is absorbed before adding the next. Add the vanilla at the end.
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Spread or pipe the pastry over the ring, to make an oval of pastry that completely covers the oval of dough. Bake for 50 to 60 minutes, until deep golden brown. Remove from the oven and let cool completely.
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To make the topping: Melt the caramel in a heatproof measuring cup at half power in the microwave in 30-second bursts, stirring after each round, until the caramel is smooth. Pour the caramel over the pastry and immediately top with the toasted pecans. Let cool.
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To make the glaze: Whisk together the confectioners’ sugar, salt, vanilla, and enough of your chosen liquid to make a pourable glaze. Drizzle over the kringle before serving.
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Store at room temperature, lightly tented with plastic wrap, for a day or so; freeze for longer storage. Kringle is best served the same day it's made. If you plan on serving it the next day, add the caramel, nuts, and glaze just before serving.
