Combine butter, shortening, 2 tblsp. warm water and 2 cups of the confectioners sugar in a bowl and mix thoroughly. Add the remaining sugar and 1 tablespoon warm water. Mix. (You might need to add 1 tablespoon more confectioners sugar if the mixture is not stiff enough to roll out.
Dilute the 2 drops of food coloring in teaspoon of water. Pour the coloring into the sugar mixture and mix until the batter is pink. Add the oil of peppermint. Mix again.
Roll out the dough onto a surface lightly dusted with the confectioners sugar. It should be rolled until it is about 1/8 inch thick. Cut it into shapes and lay them flat for about 2 hours to dry and form.
Store in an airtight container. The recipe makes about 42 hearts.
