In a bowl, cream butter, cream cheese and sugar until fluffy. Add egg and vanilla; beat until smooth.
In a medium bowl combine flour, baking powder and salt. Add dry ingredients to the creamed mixture. Stir till soft dough forms. Divide dough into fourths. Tint each with a different food color. Wrap in plastic wrap and chill for 1-2 hours.
Preheat oven to 350 degrees F (175 degrees C). Working with half of each color, shape dough into 3/4 inch balls and for each cookie place 1 pink, 1 green, 1 blue and 1 orange ball together to make 1 large ball. Shape into a 12 inch long roll (like a snake), starting at one end, coil roll to make a 2 3/4 inch round cookie. Place cookies 3 inches apart on lightly greased baking sheet. Carefully insert lollipop sticks into bottoms of cookies.
Bake cookies for 8 minutes or until lightly browned. Cool and store in an airtight container.