Line cookie sheets with Reynolds(R) Parchment Paper; set aside. No need to add extra grease or spray your cookie sheets. Knead flour into sugar cookie dough until well blended. Roll out half of cookie dough at a time to 1/4-inch thickness between lightly floured sheets of Parchment Paper. Using Valentine cookie cutters, cut out cookies; place on parchment-lined cookie sheets.
Bake 7 to 12 minutes, depending on the size of the cookies or until the edges begin to brown. Let stand one minute on cookie sheets. Slide Parchment Paper with cookies onto a wire racks to cool completely.
Icing and Decorating: Beat powdered sugar, meringue powder, water and extract in a large bowl, with an electric mixer, on high speed until smooth and thick, about 1 minute.
Divide icing into 3 small bowls. Leave one bowl of icing white. Stir food coloring in remaining 2 bowls to make pink and red icing of desired color. Cover icing tightly when not in use, icing dries quickly.
Pipe outlines of cookies with contrasting colors of icing using a decorating bag with tip. Or, place icing in plastic zipper bags. Snip off one corner with scissors and use to pipe icing.
