In the bowl of a stand mixer, cream together the butter and sugar for 2 minutes until light and fluffy, scraping the sides as needed.
Add the vanilla extract, almond extract, and eggs. Mix well until combined.
Slowly add the flour and baking powder, mixing on low speed at first, then gradually increase to a medium speed until a thick dough is formed. Do not over-mix!
Separate the dough in half. (I used a scale to ensure that the halves were equal.) Return one half of the dough to the bowl of your mixer, and add a small amount of red gel food coloring. Mix well, adding more food coloring if necessary, until there are no streaks. Remove from the bowl, form the dough into a ball, wrap in plastic, and set aside. Clean the mixing bowl. Then repeat this process with the second half of the dough, using green gel food coloring.
Place the two wrapped cookie dough balls into the refrigerator for 30 minutes until they are firm enough to roll.
Remove from refrigerator, and roll the red dough ball between two sheets of parchment paper into a rectangle that measures about 8 inches x 10 inches. The dough should be approximately ¼ inch thick. Set aside. Roll out the green dough in the same way.
Carefully stack the green cookie dough on top of the red dough, and tightly roll the layers together from the long edge (like cinnamon rolls).
Roll the dough log in holiday sprinkles, gently pressing in to ensure that they stick. Wrap tightly in plastic wrap, and refrigerate for 2 hours.
Once the dough is chilled, preheat the oven to 350 degrees F, and line a cookie sheet with parchment paper.
Using a sharp knife, slice the log into ½-inch slices, and transfer them to the prepared baking sheet.
Bake for 10 minutes until the edges are just set and the cookies are still slightly soft. Remove cookies from the oven, cool on the baking sheet for 2 minutes, then transfer to a wire rack to cool completely.