Preheat your oven to 350°F (175°C).
In a large mixing bowl, whisk together the all-purpose flour and sugar until well combined.
In another bowl, use an electric mixer to cream the cold butter until it’s light and fluffy (about 2-3 minutes).
Gradually add the dry mixture to the creamed butter, mixing until just combined, being careful not to overmix.
Stir in the chopped maraschino cherries, almond extract, and reserved cherry liquid. Add red food coloring if desired.
Melt the finely chopped white chocolate and shortening together in a microwave-safe bowl, heating in 30-second intervals until smooth.
Pour the melted white chocolate into the cookie dough and mix until fully incorporated.
Using a cookie scoop, drop rounded tablespoons of dough onto prepared baking sheets, leaving space between each cookie.
Bake for 12-15 minutes, or until the edges are lightly golden.
Let the cookies cool on the baking sheets for a few minutes before transferring them to a cooling rack. Decorate with sprinkles while warm, if desired.