1. Heat oven to 325 degrees F. Beat butter and sugars in large bowl with electric mixer until light and fluffy. Beat in both raw and hard-cooked egg yolks, almonds, almond extract, orange peel and anise seeds. Gradually beat in flour.
2. Shape dough into 48 balls. Place balls 2 inches apart on ungreased cookie sheets; flatten each into a 1-1/2-inch round.
3. Pinch center of each to shape into a hat crown. Decorate hat rims with sprinkles. Bake 14 to 16 minutes or until edges are golden. Cool on wire racks. Makes 4 dozen.