PREHEAT oven to 350º F. Sprinkle flour onto work surface.
ROLL dough to 1/4-inch thickness, using additional flour as needed to prevent sticking. Cut with 2 1/2-inch cookie cutters. Place 1 inch apart on ungreased baking sheets. Repeat with trimmings.
BAKE for 9 to 11 minutes or until light golden brown around edges. (Smaller cutters and sharp edges tend to produce darker cookies.) Cool for 2 minutes; remove to wire racks to cool completely. Decorate as desired. Store in tightly covered container.
FOR EASY COOKIE ICING:
COMBINE 2 cups sifted powdered sugar, 2 tablespoons milk and 1/2 teaspoon vanilla extract in small bowl. Stir in additional milk, a teaspoon at a time, until desired consistency. For colored icing, tint with food coloring. Makes about 2/3 cup.
Cookie shapes can be decorated with sprinkles, candies and sugar prior to baking. Bake as directed above.