In a large mixing bowl, beat softened butter with powdered sugar until light and fluffy, about 2 minutes.

Add egg, vanilla extract, and peppermint extract to the creamed mixture and beat until combined.

In a separate bowl, whisk together all-purpose flour and salt, then gradually incorporate into the wet mixture, mixing on low speed.

Split the dough in half, dye one half with red gel food coloring, wrap in plastic, and chill for 1 hour.

Preheat oven to 350°F (180°C) and line baking sheets with parchment paper.

Roll small pieces of each color into 6-inch ropes, twist together, and place on prepared baking sheets.

Bake for 8-10 minutes until set but not browned, then cool on the baking sheet for 5 minutes.

Transfer to a wire rack to cool completely before decorating or enjoying.