Cream together butter, margarine and sugar until fluffy. Add eggs one at a time, mixing well after each egg. Add anise extract. Begin adding flour 1 cup at a time. You want a thick, but not dry, dough. You may or may not use all of the flour.
Heat pizzelle iron until light goes off. Roll dough into walnut-size balls. Press slightly flat between your palms and place one on each side of pizzelle iron. Leave iron pressed down for a few minutes. Remove pizzelle to flat surface to cool.
Yields 12 dozen.