Whisk dry ingredients: In a bowl, whisk together flour, baking powder, and salt. Set aside.

Cream butter and sugar: In a large bowl, beat softened butter and sugar until light and fluffy, about 2–3 minutes.

Add egg and flavorings: Mix in the egg, vanilla, and almond extract until combined.

Combine: Add dry ingredients to the wet mixture and stir until a soft dough forms. If dough feels sticky, chill it for 20–30 minutes.

Roll and cut: Preheat the oven to 350°F (175°C). Roll dough to about 1/4 inch thick on a lightly floured surface. Cut into squares (for caps), circles (for faces or monograms), and rectangles (for diplomas).

Bake: Transfer cookies to parchment-lined baking sheets. Bake for 8–10 minutes, until edges are just set and barely golden. Cool completely on racks.

Make icing: Whisk powdered sugar, milk, and vanilla until smooth. For outlining, use a thicker icing. For flooding (filling in), thin with a little more milk. Separate into bowls and tint with food coloring.

Decorate graduation caps: Use square cookies. Outline in black, fill with black icing, and let set. Add a small yellow or gold dot for the center button, then draw a tassel with colored icing or an edible marker. Use a ruler edge to guide clean lines.

Decorate diplomas: Use rectangle cookies. Outline and flood with white icing. Once dry, draw a ribbon in the grad’s school color and add a simple knot or bow. Add a thin line for the rolled-paper edge.

Monogram or year cookies: On circles, flood with school colors. Once set, pipe the graduate’s initials or the year (e.g., “2026”) in contrasting icing. Add a ring of sprinkles around the border if you like.

Let them set: Allow decorated cookies to dry at room temperature until the icing is firm to the touch. This can take 2–6 hours depending on humidity.

Plate and serve: Arrange on a platter by theme—caps together, diplomas together, and monograms in the center—or mix them for a casual look. Add a small sign with the grad’s name for a festive touch.