Cut cookie dough in half. Sprinkle 1/4 cup of the flour onto work surface. Roll out half of dough to 12x7-inch rectangle. Repeat with remaining half of dough and 1/4 cup flour. Sprinkle 1 rectangle evenly with red sugar; sprinkle green sugar evenly over second rectangle.
Starting with shortest side, roll up each rectangle jelly-roll fashion. Wrap rolls in waxed paper; refrigerate at least 1 hour for easier handling.
Heat oven to 350°F. Cut each roll into 16 slices. On ungreased cookie sheets, place slices 1 inch apart. Bake 7 to 9 minutes or until edges are light golden brown. Cool 1 minute. Remove from cookie sheets to cooling racks.