1. In a medium mixing bowl, stir together flour, baking powder and salt.
2. In a large mixing bowl, beat butter with an electric mixer on medium speed for 30 seconds. Add sugar; beat for 2 minutes on medium speed or until mixture is light and fluffy, scraping sides of bowl occasionally. Add the eggs and the egg yolks; beat for 2 minutes on medium speed. Gradually add flour mixture beating on low speed just until combined.
3. Divide the dough into 6 portions. Set one portion aside to leave plain. Tint remaining portions with desired colors. Wrap each ball of dough in plastic wrap, pat flat into a rectangle, and chill in the fridge for 15 minutes.
4. Between 2 sheets of parchment paper or plastic wrap roll each portion of dough to 1/4-inch thickness. Wrap in plastic and freeze for 15 minutes.
5. Preheat oven to 375 degrees F. Line two baking sheets with parchment paper.
6. Using a 3-inch round cookie cutter, cut 40 cookies from the assorted colored doughs. Using a 2-inch round cookie cutter, cut a 2-inch cookie from the center of each 3-inch cookie. Using a 1-inch round cookie cutter, cut a 1-inch cookie from the center of each 2-inch cookie. Mix and match cookie colors fitting one 3-inch, one 2-inch, and one 1-inch cookie together.
7. Place cookies on the prepared baking sheets and bake 6 to 8 minutes, or until edges are just firm. Let cool on wire racks. Repeat with remaining dough.