PREPARATION:

1. Remove dough from wrapper; divide in half. Wrap 1 half in plastic wrap; refrigerate. Place remaining half in medium bowl; let stand at room temperature about 15 minutes.
2. Add red food coloring to dough in bowl; beat at medium speed of electric mixer until evenly colored. Wrap dough in plastic wrap; refrigerate 20 minutes.
3. Roll red dough on lightly floured surface to form 9-inch square. Repeat with plain dough; place plain dough on top of red dough. Cut square into three (3-inch) strips. Stack strips, alternating colors, to create one rectangular log about 9 inches long and 3 inches wide. Place on flat plate and wrap in plastic wrap; freeze 15 minutes or until firm.
4. Preheat oven to 350°F. Grease cookie sheets. Cut dough into 1/3-inch slices; place on prepared cookie sheets.
5. Bake 8 to 10 minutes or until cookies are lightly browned at edges. Cool on cookie sheets 3 minutes; remove to wire racks to cool completely.
6. Pipe 1-inch square of blue icing onto upper left corners of cookies; top with sprinkles.