Preheat oven to 350F
Line two baking sheets with parchment paper or silicone baking mats. Set aside.
In a large bowl, beat together the butter and sugar until light and whipped, about 2 minutes.
Add the eggnog and rum extract and beat until combined.
In a small bowl, stir together the flour, baking powder, baking soda, nutmeg and salt.
Slowly beat the dry ingredients in the butter mixture until fully incorporated.
Use a cookie scoop to portion out the cookie dough onto the prepared cookie sheets.
Press a maraschino cherry into the centre of each cookie dough ball.
Bake for 8-10 minutes, until just lightly golden brown on the edges.
Allow the cookies to cool completely before adding the optional drizzle.