Sift together flour, baking powder, and salt in a bowl; set aside.
In a large mixing bowl, beat sugar and butter together until light and fluffy.
Add egg yolk and vanilla extract. Slowly mix in flour mixture. Mix in extracts until well combined.
Divide dough into halves. Add red food coloring to one half until it turns pink. Leave the other half white.
Roll each half of dough between two pieces of wax paper. Roll into a 16 x 10 in. rectangle.
Place pink dough on top of the white rectangle. Roll up tightly, starting at the long edge and peel the paper off as you roll. Wrap in plastic wrap.
Refrigerate for several hours. Slice 1/4 inch thick and place slices on an ungreased cookie sheet.
Bake at 350 degrees for 10 minutes; or until lightly golden and firm. Remove to racks to cool completely.
