Heat oven to 375 deg. Mix thoroughly butter, shortening, powdered sugar, egg and flavorings. Blend in flour and salt. Divide dough in half; blend food color into one half.
Shape 1 teaspoon dough from each half into 4-inch rope. For smooth, even ropes, roll them back and forth on lightly floured board. Place ropes side by side; press together lightly and twist. Complete cookies one at a time. Place on ungreased baking sheet; curve top of cookie down to form handle of cane.
Bake about 9 minutes or until set and very light brown. If you wish, mix 1/2 cup crushed peppermint candy and 1/2 cup granulated sugar. Immediately sprinkle cookies with candy mixture; remove from baking sheet.
About 4 dozen cookies.