Combine cream cheese and butter in a mixing bowl. I like to use my stand mixer for this as there is going to be a lot of mixing going on.
When the mixture is well-combined add in your mint extract. Stir to combine.
Reserve a 1/2 cup of the powdered sugar in a small bowl. Slowly incorporate the rest of the powdered sugar into your mixture until stiff and well combined.
If you are only using one color, add a few drops of your gel food coloring into your mixing bowl and stir until the desired color. If you are doing multiple colors, divide the mixture between several small bowls and stir in your desired gel coloring to achieve your colors.
Take a small amount of the mixture and roll into a ball, about 1 inch. Drop ball into your reserved powdered sugar to coat and give it a roll in your hand. Place on a parchment lined cookie sheet and repeat for the rest of the mixture.
Using a fork, press it down onto the balls to flatten them. I found if I dipped the back of the fork into the powdered sugar first, it is less likely to stick. Let harden for about 4 hours, flipping them halfway. Store in an airtight container for up to 2 weeks.