2 cups sugar
1 cup light corn syrup
1/2 cup water
100 glazed donut holes
1. In a large saucepan, combine the sugar, corn syrup, and water and bring to a boil over high heat. Cook for 12-15 minutes, or until golden, stirring frequently. Remove from heat.
2. On a large serving plate, form a ring with 14 donut holes. Fill the center of the ring with additional holes. Drizzle each donut hole on the plate with the sugar mixture to hold them together. (Sugar mixture is very hot!)
3. Form a ring of 12 donut holes on top of the first ring; then fill the center with additional holes and drizzle with more sugar glaze. Continue building smaller rings, using all but one of the donut holes. Finish the tree by topping with the final donut hole.
4. May decorate the tree with assorted colored candies.
If sugar glaze becomes too thick, just reheat it until it's pourable again.