Heat oven to 350°F.Cut well-chilled dough in half. Refrigerate remaining dough while rolling first half. Sprinkle work surface with flour; coat sides of dough with flour. Roll dough to 1/4-inch thickness, adding flour as needed to prevent sticking.
Using 3- to 3 1/2-inch hand-shaped cookie cutter dipped in flour, cut hand shapes. If decorating with colored sugars, sprinkle over hand shapes. Place shapes 2 inches apart on ungreased cookie sheets. Refrigerate cutouts on cookie sheet for 15 minutes before baking to prevent the "fingers" from baking together.
Bake 8 to 11 minutes or until edges are light golden brown. Cool 1 minute; carefully remove from cookie sheets to cooling racks. Cool completely, about 30 minutes. Decorate as desired with sugars, icings or gels.