Pre 1970, fairly large format, color illustrated (vintage style) children’s book of fairy tales/nursery rhymes contains a story with an old woman baking a cake for a young male. Cake has prominent tubular peaks covering the surface. I think the illustration was on a left-hand page.
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I’m doing the round of searching again and wanted to add that the illustrations may have been in the style of Maxfield Parrish.
Trying to add further details. I remember the illustrations as being detailed watercolor, not cartoonish.