Braid together on a greased baking sheet. Tuck ends under to seal. Divide remaining piece into 3 equal pieces. Roll into ropes 9 inches long. Place the small braid on the large braid.
Tuck ends under to seal.
Divide dough in half. Shape each half as above. Cover loosely with wax paper that has been brushed with peanut oil, then top with plastic wrap. Refrigerate 2-24 hours. When ready to bake, remove dough from refrigerator and uncover dough carefully.