In large bowl, beat butter and sugar with electric mixer until light and fluffy. Add egg, vanilla and almond extracts; beat until well combined. Gradually add flour mixture and mix until incorporated. Shape dough into 1 in. balls and roll in red/white sparkling sugars. Place on ungreased cookie sheet 1 in. apart and make indentation in ball with finger.
Bake 12-14 minutes or until edges are golden brown. Immediately top with Candy Cane Colorbust Candy Melts Candy disk and let stand 3 minutes. Move to cooling grid; cool completely.