In a large bowl using a stand mixer with a paddle attachment (or a hand mixer), combine the butter, vanilla, almond extract, and granulated sugar. Mix until smooth.
1 cup (227 g) unsalted butter, ¼ tsp. (1.25 ml) vanilla extract, ¼ tsp. (1.25 ml) almond extract, ¼ cup (50 g) granulated sugar
Sift the confectioners' sugar and flour into the butter mixture. Mix until just combined. The dough will be slightly crumbly.
½ cup (60 g) confectioners' sugar, 2 cups (240 g) all-purpose flour
Divide the dough into three equal portions.
Return one portion to the mixing bowl and add 4–6 drops of red food coloring. Mix until evenly colored. Remove and set aside.
4-6 drops red food coloring
Repeat with the second portion of dough using 4–6 drops of blue food coloring. Leave the third portion plain.
4-6 drops blue food coloring
On a lightly floured surface, roll each color of dough out separately to about ¼ inch (6 mm) thick.
Using a 1¾-inch (4.5 cm) star cookie cutter, cut out stars from each color.
Swap the cut-out stars among the different dough colors, fitting them into the empty star spaces.
Place a sheet of parchment paper over the filled dough and gently roll over the top 2–3 times to help seal the shapes together.
Remove parchment paper and use a larger cookie cutter (about 3 inches / 7.5 cm) to cut out full cookies from the sheets of dough.
Transfer cookies to a baking sheet, ungreased or lined with parchment, spacing them 2 inches (5 cm) apart.
Chill the cookies on the baking sheet in the refrigerator for at least 1 hour.
While the cookies chill, preheat the oven to 350°F (175°C).
Bake for 11–13 minutes, or until the edges are just starting to turn golden.
Let cookies cool on the baking sheet for 5–10 minutes before transferring to a wire rack to cool completely.