Mix yeast with a little of the milk. Mix rest of milk with the butter and heat it to lukewarm. Beat the egg, and add egg, salt, and flour to the milk and butter; mix well. Add the yeast and mix well again. Cover the dough, keep in a warm place, and let rest for 15 min. Then shape the dough into 10-12 round balls and mould each in a ring (or round cookie cutter) 3-4 inches in diameter. Allow to rise for 15-20 min. Bake on a buttered tray at 400 degrees until light brown-- or, more traditionally, bake on a griddle (be sure to flip them over after a couple of minutes and do the other side).