Heat oven to 350 degrees F. With hands, shape roll of cookie dough into triangle-shaped log. (If dough is too soft to cut, place in freezer 30 minutes.)
With thin sharp knife, cut dough into 32 (1/4-inch-thick) triangular slices; on ungreased cookie sheets, place 2 inches apart. Place 2 pretzel twists on each triangle near corners for antlers.
Bake 7 to 11 minutes or until set. While warm, lightly press 2 chocolate chips into each cookie for eyes and 1 cherry half for nose. Remove from cookie sheets. Let stand until chocolate chips are set, about 15 minutes. Store between sheets of waxed paper in tightly covered container.
Candy-coated chocolate candies or gumdrops may be substituted for the cherry nose.