Preheat the oven to 350°F (175°C). Line 2–3 baking sheets with parchment paper.

In a large bowl, cream together the butter and sugar until light and fluffy.

Add the eggs, vanilla extract, almond extract, and orange zest. Mix until smooth.

Gradually add the flour and mix until a dough forms. If the dough feels dry, add 1 tablespoon of milk.

Roll the dough to ¼-inch thickness. Cut out shapes using cookie cutters.

Transfer cookies to baking sheets and refrigerate for 10–15 minutes.

Bake for 10–12 minutes, or until the edges are just lightly golden. Let cool completely.

For the icing, whisk together meringue powder, lemon juice, and water. Gradually mix in powdered sugar until glossy. Thin with water as needed.

Divide icing into bowls and tint with gel colors. Decorate cookies, then add sprinkles or crushed candy canes. Let icing set before serving.