BEAT cream cheese, butter, granulated sugar and vanilla with electric mixer until blended. Add flour and baking soda; mix well. Refrigerate 30 min.

PREHEAT oven to 350°F. Roll dough to 1/8-inch thickness on lightly floured surface. Cut into shapes with 3-inch cookie cutters. Place, 2 inches apart, on greased baking sheets. Sprinkle with coloured sugar.

BAKE 10 to 12 min. or until edges begin to brown. Let stand on baking sheets 2 min.; transfer to wire racks. Cool completely.