Preheat oven to 375 degrees F (190 degrees C). Place the sprinkles in a shallow bowl.
Beat the shortening and sugar in a bowl with an electric mixer until the mixture is light and creamy. Pour in the champagne, and mix for about 1 minute on low speed. Mixture will be lumpy. Mix in the baking powder, and stir in flour to make a smooth dough. Stir in red food coloring by drops until the mixture is desired shade of pink.
Pinch off about 1 rounded tablespoon of dough, roll into a ball, and dip the ball into the sprinkles, covering the top. Place the ball onto a baking sheet with the sprinkles up, and repeat with the rest of the dough. Use the bottom of a glass to press the cookies flat.
Bake in the preheated oven until the edges of the cookies are very lightly browned and the cookies are crisp, 12 to 14 minutes. Let cool 1 minute on baking sheet before removing to a rack to finish cooling.
