Preheat oven to 350° F.
Add butter to the bowl of your stand mixer and cream on medium-high for 1-2 minutes, or until butter is smooth and lighter in color.
With the mixer on low slowly add in the sugar, and then the egg. Be sure to scrape the sides of the bowl if necessary.
Turn mixer back on low and add in extracts.
Add in the baking powder and flour, 1/2 cup at a time, until fully incorporated.
Separate your dough into two equal sections.
Place one section on a parchment paper lined countertop and add in about 1 tsp red food coloring and knead with your hands until color is incorporated.
Repeat with your other dough and the green food coloring.
Trim edges so you have straight even sides.
Cut your rectangles into 1-inch strips.
Weave your red strips over and under the green strips, creating a basket like appearance. (see video)
Slightly press down with rolling pin to seal together.
Using a 3" mitten cookie cutter, cut out shapes and place on ungreased cookie sheet. You will have extra dough, so press together to create multi-colored cookies which you can use the cookie cutter to cut out as well or just flatten into circles.
Bake for about 8-10 minutes or until they are lightly browned.
Remove to cooling rack to cool completely.
Decorate bottoms with buttercream if desired. You can use a #21 or #32 tip and pipe out the fluffy bottom edge.