With a hand mixer, beat together cream cheese and butter in a large mixing bowl until smooth.
Gradually add in 1 cup of powdered erythritol and mix until combined (be sure to reserve ½ cup for later step).
Add peppermint extract and food coloring. Beat until color is evenly distributed.
Cover bowl with plastic wrap and place in refrigerator for a minimum of one hour. This will help firm up the mints.
After cooling in the refrigerator, use a spoon or cookie scoop to form individual servings. Place them in a bowl with the remainder of the powdered erythritol and swirl to coat. This will make them much easier to roll with minimal sticking.
With clean hands, roll the cream cheese to form small balls. Place them on a parchment lined baking sheet, about 1-2 inches apart.
When all balls are rolled, take a fork dipped in erythritol and apply a crosshatch design on top. Use the tines of the fork (jagged edges) to make your design.
Refrigerate until completely cooled.