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

Mix in egg, vanilla extract, and peppermint extract until just incorporated, about 30 seconds.

In a separate bowl, whisk together flour and salt. Gradually add to wet ingredients until a soft dough forms, about 1 minute.

Divide dough in half, tint one half with red gel food coloring, and refrigerate for at least 1 hour.

Preheat oven to 350°F and line baking sheets with parchment paper.

Roll small pieces of dough into 6-inch ropes, twist red and white ropes together, and place on baking sheets.

Bake for 8 to 10 minutes, edges should be set but cookies remain soft.

Cool cookies on baking sheets for 5 minutes before transferring to wire racks to cool completely.