In a small bowl stir flour and baking powder together. Set aside. Cream butter and sugar together. Stir in egg and extracts. Slowly incorporate dry ingredients.
Roll dough out onto floured surface to be just over 1/4" thick. Cut cookies out using X and O cookie cutters and place onto parchment paper lined baking sheet.
Freeze 5-7 minutes, then bake 10-12 minutes. Cool 3 minutes on baking sheet, then remove to cooling racks.
In a small bowl, stir all glaze ingredients together until smooth and runny.
Dip each cookie into the glaze and place onto cooling rack to let excess glaze drip down. Top with desired sprinkles and dry 1-2 hours.