Preheat oven to 400ºF.

Beat butter and sugar until fluffy; add almond extract; add flour; mix well.

Shape dough into 1 inch balls. Roll balls in chopped nuts.

Place dough balls on a un-greased cookie sheet. Make an indentation in each ball to be filled in after baking. If using jam, fill the indents with jam before baking. If using gum drops, press the gum drops into the cookies after they are baked.

Bake for 10 to 12 minutes.