Preheat oven to 300 degrees F. Line 2 baking sheets with silicone liners or parchment paper. Set aside.

In the bowl of a stand mixer, cream together the butter and sugar until fluffy, about 2 minutes. Beat in the egg yolks, one at a time, and the extracts until blended. Lastly, add in the flour until a soft dough comes together.

Lightly flour a work surface and roll out the dough until it's about 1/4" thick or so, or to desired thickness. Cut using floured cutters and place on the baking sheets. Bake, rotating pans halfway through baking time, for approx. 15-17 minutes, or until cookies are light golden brown. Cool completely, then ice and/or decorate as you desire.