Combine butter, flour and Parmesan cheese in a food processor and pulse until a crumbly dough comes together. Pinch a small amount of the dough. If the dough holds together, it is ready. If the dough does not hold together, add a tablespoon of ice cold water, pulse to combine and do the pinch test again. Keep in mind, this is a very dry dough - don't get crazy adding cold water.
Turn your dough out onto a silpat or sheet of parchment paper and form it into a ball. Cut the ball in half and form each half into a flat disc. Wrap the two discs in plastic wrap and chill in the refrigerator until firm (at least 2 hours).
Preheat oven to 325°F. Line a baking sheet with parchment paper or a silpat.
Take one dough disc from the fridge and unwrap. Lightly flour a work surface (I use my silpat), a rolling pin and the dough disc. Roll the dough to a ¼ inch thickness, working from the center of the dough out. Using a cookie cutter, cut out individual crackers and place on the lined baking sheet 1 inch apart. I used a small cookie cutter to form bite-sized crackers. You could certainly use any sized cookie cutter for this recipe. Repeat these steps with the remaining dough disc.
Bake crackers until firm (about 12- 13 minutes). Take the baking sheet from the oven and increase the temperature to 500°F.
Return the baking sheet to the oven once the temperature has come up and bake crackers until golden brown (about 2 - 3 minutes).