From these three you can select any one and do for Krishna Jayanthi.
Ingredients:
1 lt full cream milk
400 gms sugar
2 tsp crushed cashew nuts (optional)
2 tsp 'sarai parapu' (i dont know in English

)
2 - 4 table spoon rice (wash and dry and keep it ready)
2 - 4 sp ghee
saffron strings
Method:
Pour 2 sp ghee in a pan and fry rice. Add half milk and water.
Cook the rice in that and allow the milk to reduce.
Keep the flame less. Have an eye on that.
When the rice mashed and cooked well add the rest of the milk and again allow it to reduce.
When it starts thick, add sugar and mix well.
It will become light pink or cream in colour.
Remove it from the fire and add fried 'sarai parrapu' in that.
Note: generally we add only 'sarai parrapu' for 'pal payasam' but if you want you can add cashew, kismis, 'pachai karpuram' or cardamom powder as per your taste. You can add jaggery instead of sugar. (old people / aacharamana people wont use sugar even now a days) Instead of adding the 1/2 lt milk again with the cooked rice, you can add 'evoprorated milk' or 'milk maid' to reduce the time and increase the taste. But be careful when you are going to add 'milk maid' because it is sweetned already.