Preheat oven to 350 degrees F. Line 2 sheet pans with silicone baking pads.
Slice dough log at 1/4-inch intervals and place onto prepared baking sheets spaced 1 inch apart.
Press a 1-inch round cutter into the center of each cookie round. Remove the small circle of dough and replace it with a round hard candy.
Bake in oven 8 to 10 minutes.
Remove from oven. While still warm, make a hole at the top of each cookie with a large straw. Place baking sheet on the cooling rack and cool completely.
When the cookies have completely cooled, use the decorative icing and evenly space 6 icing dots around the edges of each cookie. Lightly push the silver dragees into the icing dots. Allow icing to harden.
Place the 8-inch piece of ribbon through the hole at the top and tie the ends together.
Repeat with remaining cookies.
You can eat your cookies or hang them as ornaments on a Christmas tree or in a window.