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Step 1
Heat oven to 350°F. Place cookie dough rounds about 2 inches apart on ungreased large cookie sheets.
Step 2
Bake 10 to 14 minutes or until light golden brown. Cool 2 minutes; remove from cookie sheet to cooling rack. Cool completely, about 20 minutes.
Step 3
In each of 2 small bowls, place 2 tablespoons frosting; tint 1 bowl green and 1 bowl red by stirring in food color to desired color. In large shallow microwavable bowl, spoon remaining 1/2 cup untinted frosting in center of bottom of bowl. Spoon colored frostings on either side of untinted frosting. Microwave uncovered on High 20 to 30 seconds or until warmed and thinner glaze consistency. (Do not mix colors together.)
Step 4
Dip top side of each cookie into glaze, letting excess drip off. Place cookie right side up on cooling rack placed over cookie sheet or waxed paper. Rewarm frosting mixture in microwave to maintain dipping consistency, if needed while dipping cookies. Let stand about 2 hours or until set.
Step 5
Store covered in airtight container at room temperature with waxed paper between layers.