Cream the butter and sugar in a large bowl on medium until light and fluffy, about 2 minutes. Add egg, vanilla, and almond extract, mixing until combined.

In a second bowl, whisk flour, baking powder, and salt. Add to the butter mixture on low speed until a dough forms. Avoid overmixing.

Split the dough into two equal portions. Tint one portion red and the other green using gel coloring.

Press each colored dough into rough 8 by 10 inch rectangles. Wrap in plastic and chill for 30 minutes to firm up.

Place the red dough between two sheets of parchment and roll to about 1/8 inch thickness. Repeat with the green dough.

Stack the green dough on top of the red, lining up edges and lightly rolling once to help them stick.

With the long side facing you, tightly roll the stacked dough into a log, using the parchment to assist. If the dough cracks, let it sit at room temp for 3 minutes, then continue.

Wrap the log tightly in parchment or plastic and chill for 2 hours until very firm.

Preheat the oven to 350°F (175°C). Unwrap the log and roll it in sanding sugar or sprinkles if using.

Slice into 1/4 inch rounds with a sharp knife, wiping the blade between cuts for clean edges.

Place slices on a parchment-lined baking sheet with space between them and bake for 9 to 11 minutes until the edges look set and centers are still soft.

Let cool on the sheet for 2 minutes, then transfer to a rack.