Holiday Peppermint Cream Cheese Candies

Makes 5 dozen. Beat cream cheese, margarine, corn syrup and extract in large mixing bowl at medium speed with electric mixer until well blended. Gradually add 4 cups powdered sugar, mix well. Divide mixture into thirds. Knead few drops green food coloring into one third, repeat with red food coloring and second third. Wrap each third in plastic wrap. Working with one color mixture at a time, shape into 3/4-inch balls. Place on waxed paper-lined cookie sheet. Flatten each ball with bottom of glass that has been lightly dipped in sugar. Repeat with remaining mixtures. Decorate with icing. Chill.