Slice each roll of crescent roll dough into 6 equal pieces for a total of 12 pieces and flatten each piece. Arrange 10 pieces into a triangle forming the 'tree' on a baking sheet. Arrange the remaining 2 dough pieces as the 'trunk.'
Whisk white sugar, butter, and orange zest together in a bowl until smooth; brush onto 'tree.'
Bake in the preheated oven until lightly browned, about 20 minutes.
Beat confectioners' sugar, cream cheese, and orange juice together in a bowl using an electric mixer until smooth and creamy; brush into baked 'tree.' Sprinkle 'tree' with red and green decorating sugar.