Beat cream cheese and shredded cheese in medium bowl with electric mixer on medium speed until well blended.
Add remaining ingredients; mix well. Cover.
Refrigerate several hours or overnight.
Place drinking glass in center of serving platter.
Drop rounded tablespoonsful of cheese mixture around glass, just touching outer edge of glass, to form ring; smooth with spatula.
Garnish with additional parsley and red peppers, if desired.
Serve with assorted NABISCO Crackers.
Yield: 3 cups or 24 servings, 2 tablespoons each
Substitute: Prepare as directed, using PHILADELPHIA Neufchatel Cheese, 1/3 Less Fat than Cream Cheese and KRAFT 2% Milk Shredded Reduced Fat Cheddar Cheese.
Nutritional Information: Calories 100 Total fat 10 g Saturated fat 6 g Cholesterol 30 mg Sodium 170 mg Carbohydrate 1 g Dietary fiber 0 g Sugars 1 g Protein 3 g Vitamin A 10 %DV Vitamin C 6 %DV Calcium 8 %DV Iron 0 %DV