Preheat your oven to 375°F (190°C). Line two baking sheets with parchment paper.
In a medium bowl, whisk together the flour, baking soda, baking powder, and salt. Set aside.
In a large bowl, cream together the softened butter and white sugar until smooth. Beat in the egg, vanilla extract, and almond extract until well combined.
Gradually add the dry ingredients to the wet ingredients, mixing until just combined.
Scoop out tablespoon-sized portions of dough and roll them into balls. Roll each ball in red sugar sprinkles, then in blue sugar sprinkles, ensuring they are well coated.
Place the coated dough balls on the prepared baking sheets, spacing them about 2 inches apart.
Bake in the preheated oven for 8 to 10 minutes, or until the edges are lightly golden. Remove from the oven and let them cool on the baking sheets for 5 minutes before transferring to a wire rack to cool completely.