Source: Kraft

8 ounces Philadelphia Cream Cheese, softened
1 cup (2 sticks) butter or margarine
2/3 cup granulated sugar
1/4 teaspoon vanilla extract
2 cups all-purpose flour
Colored sugar

Beat cream cheese, butter, granulated sugar and vanilla extract in large bowl with electric mixer on medium speed until well blended. Add flour; mix well. Cover. Refrigerate several hours or overnight.

Roll dough to 1/4-inch thickness on lightly floured surface. Cut into shapes with cookie cutters; sprinkle with colored sugar. Place on ungreased cookie sheet.

Bake at 350 degrees F for 12 to 15 minutes or until edges are lightly browned. Cool completely on wire racks.

Tip From the Kraft Kitchens: To speed-soften 8 ounces cream cheese, microwave completely unwrapped package on HIGH for 10 to 15 seconds or until slightly softened.