In a small saucepan, whisk together the sugar, vanilla sugar, and water.
Place the saucepan over medium heat and bring to a simmer. Cook, whisking often, until all the sugar is dissolved and the mixture is slightly thickened, about 10 minutes.
Remove from heat and whisk in the rose water.
Sift the almond flour into a large bowl.
Use a wooden spoon or rubber spatula to slowly stir in syrup until no streaks of the almond remain.
Cover the bowl and refrigerate for 30 minutes to 1 hour.
Dust a large work surface lightly with almond flour. Add the rested almond dough and knead lightly until no longer sticky, adding more almond flour as needed.
Divide the dough into three equal pieces.
Set one piece aside.
For the second piece, add the red food coloring and knead until evenly distributed.
For the third piece, add the green food coloring and knead until evenly distributed.
Roll each piece into a 3/4 inch (2 centimeter) thick rope.
Carefully arrange the ropes side by side with about 2 inches (5 centimeters) of space between each rope.
Starting from one end, braid the ropes together. Gently roll the braided rope back and forth once or twice to remove any air and seal together the dough.
Pour about 1/4 cup (50 grams) fine granulated sugar into a wide bowl.
Cut the braided rope into about 1 inch (2.5 centimeters) pieces. Roll each piece into a ball, then coat evenly in the sugar.
If desired, place each coated round into a miniature muffin liner for easy serving. Store leftovers in an airtight container at room temperature for up to a week.