LINE a cookie sheet with Reynolds Parchment Paper; set aside.
COMBINE flour, baking powder and salt on a sheet of parchment paper; set aside. Beat butter and sugar until fluffy in a large bowl, with an electric mixer. Mix in egg and vanilla until well blended. Gradually beat flour mixture into butter mixture until smooth. Divide dough in half; shape into 2 flat disks. Wrap dough in Reynolds Plastic Wrap; refrigerate 30 minutes to 1 hour or until firm enough to roll.
TO BAKE, preheat oven to 375°F. Roll out dough 1/8 inch thick between 2 lightly floured sheets of parchment paper or on a lightly floured surface. Cut dough with 2 to 6 inch cookie cutters. Place cookies 1-inch apart on parchment-lined cookie sheet. Decorate with colored sprinkles and candies.
BAKE 8 to 10 minutes or until cookies are just beginning to brown on edges. Cool.
REYNOLDS KITCHENS TIP: Rolling out cookie dough between 2 sheets of parchment paper prevents sticking and keeps your work surface clean. To hold the parchment sheets in place, fold a few inches of the parchment over the edge of the counter and lean against them while you are rolling the dough. If necessary, turn parchment to roll dough at different angles.