1 cup butter, softened
1 1/2 cups granulated sugar
1 1/4 teaspoons peppermint extract
2 1/2 cups flour
1 1/2 teaspoons baking powder
1/4 teaspoon salt
Red food coloring
Cream butter; add sugar, beating until light and fluffy. Add egg and peppermint extract; beat well.
In small bowl, combine flour, baking powder and salt; add to butter mixture. Divide dough in half. Add a few drops red food coloring to one half; refrigerate both halves until firm.
Divide each portion into 2 equal portions. On floured wax paper, roll one white portion and one red portion into an 8-inch square. Invert white dough onto red dough; remove wax paper. Tightly roll dough jellyroll fashion, peeling wax paper from red dough as you roll. Repeat with remaining dough. Cover with wax paper; chill.
Cut dough into 1/4-inch slices; place on ungreased baking sheets. Bake at 350 degrees F for 10 minutes. Remove to wire racks to cool.