In a large mixing bowl, beat the softened cream cheese and butter using an electric mixer on medium speed until smooth and fluffy, about 2–3 minutes. Scrape the bowl as needed.

Add the peppermint extract and a pinch of salt. Start with ½ teaspoon and adjust to taste later.

Gradually mix in powdered sugar, one cup at a time, on low speed. Once too thick for a mixer, knead by hand until smooth and pliable, dusting with powdered sugar as needed.

Divide the dough into three portions for red, green, and white mints. Add gel food coloring to the red and green portions and knead until evenly colored.

Dust a surface with powdered sugar. Roll each dough portion into a rope about ½ inch thick and cut into bite-sized pieces.

Roll each piece into a ball and gently press with a fork for a criss-cross pattern, or use candy molds or cookie stamps for shapes.

Roll each shaped mint in granulated sugar to coat and prevent sticking.

Arrange mints in a single layer on a parchment-lined baking sheet. Let air dry uncovered at room temperature for 12 to 24 hours.