Roll out chilled cookie dough about Âź-inch thick, cut out smaller circles in the center of larger circles to make rings. Place on a baking tray lined with parchment paper and bake according to the recipe. Let cool completely.
Prepare icing according to the recipe, divide and tint your colors. Prepare a decorating bag with coupler and tip for each color, fill each with icing, and close the bags tightly with rubber bands. Have ready your five colors of icing and five colors of sprinkles.
Work with one cookie at a time. Pipe to outline the ring at the outside and inside circle, then pipe to fill the ring completely with icing.
Place the ring on a plate and generously sprinkle a coordinating color of sprinkles over the cookie. Move the ring to a baking tray and let the cookies dry overnight.