Cream butter and cream cheese.

Mix in flour until well blended. Chill dough before rolling.

Roll out dough to 1/8" thickness on lightly floured surface.

Cut into 2-inch rounds.

Spoon a small amount of preserves onto center of circle and fold two sides of circle towards middle, overlapping edges in center (bottom should form a point and top should be open to reveal filling).

Place on baking sheet and bake at 375° F for about 15 minutes, but do not overbake.

Cool cookies and drench entire cookie in powdered sugar.