1/4 cup butter
1 large (2 pounds) package of confectioners' sugar
1/2 teaspoon peppermint extract
Red food coloring
More confectioners' sugar
In a large saucepan over low heat, cook cream cheese and butter, stirring constantly, until smooth. Gradually stir in package of powdered sugar; stir in extract. Blend in food coloring, either uniformly, or divide mixture into two portions and leave half white.
Shape mixture into 1 inch balls. Dip a flat-bottom glass into powdered sugar. Press each ball until flattened. Let stand, uncovered until firm.
Refrigerate or freeze leftover mints.