How to Make It
Beat butter and cream cheese with a stand mixer fitted with a paddle attachment on medium speed until creamy, about 1 minute. Gradually add granulated sugar, beating until light and fluffy, about 1 minute. Add egg, vanilla, and almond extract, beating until just combined, about 30 seconds.
Stir together flour, baking powder, and salt in a bowl. Gradually add flour mixture to butter mixture, beating on low speed until just combined, about 1 minute. Shape dough evenly into 2 disks. Wrap each disk in plastic wrap; chill 1 hour.
Preheat oven to 375°F. Roll out 1 disk to 1/4-inch thickness on a lightly floured work surface. Cut dough into wreath shapes using a 2 1/2-inch fluted round cookie cutter; cut out centers of wreaths using a 1-inch fluted round cookie cutter (reserve center cutouts). Arrange center cutout pieces into circular wreath shapes, if desired, overlapping pieces slightly. Repeat procedure with remaining dough disk, rerolling scraps once. Arrange wreaths evenly on 2 baking sheets lined with parchment paper.
Brush wreaths evenly with egg white. Sprinkle with sanding sugar. Gently press red sugar pearls into cookies.
Working in 2 batches, bake in preheated oven until cookie edges turn light golden, 10 to 12 minutes. Remove from oven. Immediately gently press red cinnamon candies into hot cookies to make “berries.” Cool on baking sheets 5 minutes. Transfer cookies to wire racks, and cool completely, about 30 minutes.