In a large mixing bowl, mix together the butter, vanilla extract, and almond extract.
Add the heavy whipping cream to the mixture.
Slowly add the powdered sugar to the mixture, mixing it in as you go.
Once everything is mixed together, the icing should be smooth and creamy, free of any lumps.*
At this point, you can add food coloring, if desired.
Have fun decorating cookies together!
Notes
*It's important to get the right consistency. You don't want the icing to be too thick (it won't spread well) or too thin (it'll run right off your cookies).