Preheat oven to 375°F.
Line a cookie sheet with parchment paper, silicone baking mat, or coat with nonstick spray.
In a large bowl, combine cake mix, eggs, and olive oil until mixed well without overmixing.
Divide dough equally into two bowls.
Add red food coloring to one bowl and green food coloring to the other, mixing until color is uniform.
Use a small cookie scoop to form 1 1/2 tablespoon dough balls.
Roll each dough ball in powdered sugar to coat.
Place balls on prepared cookie sheet, spacing 1 1/2 inches apart.
Bake for 9 to 12 minutes until cookies spread and set.
Let cookies cool on sheet for 2 minutes, then transfer to a cooling rack.
Serve and enjoy your festive cookies.