Combine cream cheese and butter in the bowl of a stand mixer (or in a large bowl and use an electric mixer) and beat until creamy and well-combined.
8 oz Cream Cheese, 2 Tablespoons Butter
Add the peppermint and vanilla and mix until combined. Place the mixer on low-speed, gradually add 2 cups at a time of the powdered sugar, until all is combined. Scrape sides and bottom of the bowl. The dough should be very stiff.
To use food coloring: If using just one color you can use your electric mixer to beat the color into the dough, otherwise divide the dough into as many bowls as you would like colors and color each individually, stirring well until color is well-incorporated. I start with a spoon and then knead with my hands because it's so thick. Only use gel coloring if you can!! The colors are more rich and don't break down the dough.
Gel Food Coloring
Using a small cookie scoop, scoop out about teaspoon sized balls. Roll dough between your palms until smooth. Transfer to wax-paper lined baking sheet. Dip the tines of a fork in powdered sugar and use that to gently but firmly press down on each mint.
Allow mints to dry at room temperature for several hours (they should be dried through, so check under the bottoms, then transfer to an airtight container and store in the refrigerator until ready to serve. Store mints in single layers with a sheet of wax paper between them.