In the bowl of a stand mixer, cream together the butter, sugar, peppermint extract, vanilla and baking powder until light and fluffy.
Mix in the egg. Add in the flour and salt, and mix until fully combined.
Divide the dough in two and transfer one half into a separate bowl. Add in a little bit of the pink food coloring and mix until incorporated. Keep adding the pink food coloring until it reaches your desired color.
Shape each dough half into a disk and wrap in plastic wrap. Refrigerate for at least 3 hours.
Preheat the oven to 350˚F. Line a baking sheet with parchment paper.
Remove a 1-inch round piece of dough from the write dough and roll it out into a 5-inch rope. Do the same with a piece of pink dough.
Place the ropes next to each other and twist together. Form into a candy cane shape and place on the prepared baking sheet. Repeat with the reamining dough.
Bake in the preheated oven for 8-10 minutes. Allow to cool completely on baking sheet.