1Heat oven to 375°F. Beat sugars, peanut butter, butter and egg in large bowl with electric mixer on medium speed, or mix with spoon. Stir in flour, baking soda, baking powder and salt.
2Spread dough in ungreased 12-inch pizza pan. Bake about 15 minutes or until golden brown. Cool completely in pan, about 30 minutes.
3Spread frosting on cookie. Decorate with candies. Loop string licorice through ring-shaped hard candy to make hanger for ornament.