Combine cream cheese and 1 cup shredded cheddar cheese in a medium mixing bowl until
thoroughly combined. Place the rest of the cheddar cheese in a shallow bowl or onto a plate.
Form the cheese into a ball. Roll the ball in the shredded cheese until fully coated.
Wrap the ball of cheese tightly in plastic wrap. Then use kitchen twine or 4 clean rubber bands to firmly wrap around the ball four times at intervals that create indentations to look like a pumpkin. Refrigerate until firm, about two hours.
Remove the twine or rubber bands and plastic wrap from the cheeseball. Use a sharp paring knife to carefully cut the shape of a stem from the red pepper and insert it into the top of the cheeseball. Slice the remainder of the red pepper and any other vegetables, fruit, and/or crackers you would like to serve with the cheese.