In a medium bowl, whisk together the all-purpose flour, baking powder, and salt. Set aside.

In a large bowl, cream together the softened butter and granulated sugar until light and fluffy, about 3-5 minutes.

Add the egg, vanilla extract, and peppermint extract to the butter and sugar mixture. Mix until well combined.

Gradually add the flour mixture to the wet ingredients and mix on low speed until just combined.

Divide the dough into two halves. Leave one half plain and mix red gel food coloring into the other half until the color is uniform.

Wrap each half of the dough separately in plastic wrap and chill in the refrigerator for at least 30 minutes.

Roll out the plain dough into a rectangle about 10x12 inches and 1/4 inch thick, then do the same with the red dough.

Layer the red dough rectangle on top of the plain dough rectangle and gently press them together.

Starting from one long side, carefully roll the layered dough tightly into a log.

Wrap the log in plastic wrap again and chill in the refrigerator for at least 2 hours.

Preheat the oven to 375 degrees F (190 degrees C) and line baking sheets with parchment paper.

Remove the chilled log from the refrigerator and optionally brush lightly with water or a beaten egg white, then roll in coarse sugar or crushed peppermint candies.

Slice the dough log into 1/4 inch thick rounds and place them on the prepared baking sheets, spaced about 1 inch apart.

Bake the cookies for 8 to 10 minutes or until the edges are lightly golden. Do not overbake.

Let the cookies cool on the baking sheets for a few minutes before transferring them to a wire rack to cool completely.