Cream butter and sugar until light and fluffy in an electric mixer, about 3 minutes. Add eggs and extracts. Scrape the bowl. Add flour, baking powder, and salt. Mix until just combined. Divide dough in half. Add red food coloring to one half. Wrap in plastic wrap and chill for 2 hours.
Roll out dough to 1/4” to 3/8” thick. Cut out circles 2 small round cookies for the top and bottom. Cut out 2 red and 2 white cookies that are larger in diameter. Cut a circle into the middle using a small round cutter. Carefully transfer to a baking sheet lined with parchment paper.
Bake in a preheated 350°F oven for 10 to 12 minutes. Let cool on the rack for 5 minutes, then transfer to a cooling rack to cool completely.
To assemble, Use a generous amount of icing on the base. Add a larger cookies to the top. Add more royal icing to the top of that cookie to act as glue. Stack, alternating colors, until you have 4 cookies. Make a lid by attaching a candy bow or stacked chocolate covered candies. Fill with mini chocolate covered candies.