Cream the butter and sugar in a large mixing bowl. Add the eggs, one at a time, beating well after each addition. Beat in vanilla.

In a separate bowl, combine the flour, baking powder, and baking soda. Gradually add to the creamed mixture, alternating with the buttermilk. Cover and refrigerate for at least one hour or until the dough is easy to handle.

Preheat oven to 350°F. Line baking sheets with parchment paper and set them aside.

On a heavily floured surface, roll out the cookie dough to ¼-inch thickness. With a floured heart-shaped cookie cutter, cut out cookies. Place 1-inch apart on the prepared baking sheet. Sprinkle with coarse or colored sugar, if desired.

Bake for 8-10 minutes or until the edges are slightly browned. Cool the cookies on the baking sheet for 2 minutes. While the cookies are still warm, poke two holes into each cookie with a straw. Carefully move the cookies to a wire rack to cool completely.

When the cookies are completely cooled, thread ribbons through the holes and tie them into bows, trim ends if necessary.