Beat butter and sugar together until light and fluffy, about 2–3 minutes.
Add egg, egg yolk, peach extract, almond extract, vanilla extract, and optional food coloring. Mix until smooth.
Add flour, baking powder, and salt. Mix just until a soft dough forms. Do not overmix.
Cover and chill dough for 30 minutes.
Scoop large dough balls (about 3 tablespoons each) and place on a parchment-lined baking sheet.
Bake at 350°F for 10–12 minutes until edges are set and centers look slightly underbaked.
Allow cookies to cool completely before frosting.