To make Christmas present cookies you will need:

Outline & flood the box part of the present cutter.

 Add wet-on-wet details, etc. Allow to dry for an hour or more before adding bow.

Also, I used my handy cake tester to make box lines on the partially dried glaze.

Outline bow and allow outline to dry before flooding. This will give it more dimension. 

Once the bows have dried for 30 minutes or more, add the knot of the bow.