BEAT cream cheese, Cheddar cheese, garlic powder and cayenne pepper with electric mixer until well blended. Divide in half. Add roasted red peppers to half of the cream cheese mixture and green onions to the other half; mix each half until well blended. Cover.
REFRIGERATE 2 to 3 hours to allow the flavours to blend.
SHAPE cheese mixtures into 1-inch balls. Roll in one of these options: finely chopped nuts, Kraft Double Cheddar Shreds, paprika, sesame seed or chopped fresh parsley. Cover and refrigerate until ready to serve.