Cream butter and sugar until light and fluffy. Add egg yolks and almond extract. Blend well, then add flour. Mix thoroughly.
Form into 1 inch balls and place on an ungreased baking sheet. Flatten balls to 1/4 inch thick with the flat bottom of a floured glass. Bake at 325 for 15 minutes. Frost and top with cherry slice when cooled.
Melt butter, stir in powdered sugar, cream, milk, almond flavoring and salt. Whisk until completely smooth. Frost cookies with icing and place a 1/4 sliver of maraschino cherry on top.