Cut crust from bread. Roll bread slices with rolling pin to flatten. In bowl, mix cream cheese 1/4 cup sugar, 1/4 stick of oleo, egg yolk and vanilla. Mix until it creates a soft spread. Spread mixture onto bread slices and roll up like jelly roll. Set rolls aside with preparing the wash.
Melt the remaining oleo to create a wash. Next prepare a shallow bowl with 1 cup sugar and add cinnamon. After oleo cools, dip bread rolls into oleo, covering evenly. Follow by rolling them in cinnamon & sugar mixture. Place rolls on a cookie sheet and let freeze.
After completely frozen, bake at 350°F for 15 minutes.