Roll out dough following directions in Cookie Fondue recipe. Cut out cookies using alphabet cookie cutters, spelling out P-E-A-C-E. Press together scraps and flatten into a disk; chill in plastic wrap until firm, about 20 minutes, then roll out to make more cookies. Lightly beat egg white and brush over cookies. Sprinkle with decorating sugar. Transfer to prepared cookie sheets, placing 1 inch apart.
Bake cookies, 2 sheets at a time, in upper and lower thirds of oven, switching positions halfway through, until pale golden, 10 to 12 minutes. Transfer cookies on sheets to racks and cool until firm, about 2 minutes. Using a metal spatula, transfer cookies to racks and cool completely. Makes about 9 dozen cookies.