With electric mixer, beat butter with sugar until blended.
Add egg and extracts; beat 2 minutes. Add flour and salt; beat until combined (mixture will be crumbly).
Turn onto lightly floured surface and shape into ball; flatten. Wrap and refrigerate at least 1 hour.
Using floured rolling pin, roll half of the dough on well-floured surface until slightly less than 1/4-inch thick. Cut into shapes and arrange about 1-inch apart on ungreased baking sheets.
Repeat with remaining dough. Bake 12 minutes or until edges are lightly golden. Let stand 1 minute; remove to wire rack and cool.
If desired, to glaze cookies, blend 1/2 cup powdered sugar, 1 1/2 Tbsp water and 1 drop red food coloring. Brush tops of cookies with sugar mixture, then let dry before storing in airtight container.
*For orange cookies, substitute 2 tsp orange extract.Servings: 4