In large bowl, beat butter and cream cheese until fluffy; stir in flour. Cover; chill 1 hour.
Preheat oven to 375 degrees F. Divide dough into quarters. On floured surface, shape 1 quarter into a smooth ball. Divide into 12 balls. Place each ball in a 1 3/4-inch muffin cup; press evenly on bottom and up side of each cup. Repeat with remaining dough.
In medium bowl, combine EAGLE BRAND, eggs and extracts; mix well. Stir in coconut. Fill muffin cups 3/4 full. Bake 16 to 18 minutes or until slightly browned. Cool in pans; remove. Store leftovers loosely covered at room temperature.
Chocolate Macaroon Cups: Beat 1/4 cup unsweetened cocoa into egg mixture; proceed as above.