Beat together butter, sugar and vanilla until light and fluffy.
Stir in flour, almonds, cinnamon and salt, blend well. Stir in orange peel. Wrap dough in plastic and refrigerate 2 hours.
Preheat oven to 375 degree F. Roll out dough 1/4 inch thickness and cut shapes with Christmas cookie cutters.
If not using icing, decorate with colored sugar or gragees before baking.
Bake 9-12 minutes or until golden brown.
Decorate with icing, colored sugars, dragees, etc. Store airtight at room temp one week, freeze longer.