Beat cream cheese, butter, corn syrup and extract in large mixing bowl at medium speed with electric mixer until well blended.
Gradually add 4 cups powdered sugar; mix well.
Divide mixture into thirds. Knead a few drops green food coloring into one third; repeat with red food coloring and the second third. Leave the last third white.
Wrap each third in plastic wrap.
Working with one color mixture at a time, shape into 3/4-inch balls.
Place on waxed paper-lined cookie sheet. Flatten each ball with bottom of glass that has been lightly dipped in confectioner's sugar.
Repeat with remaining mixtures.
Decorating with icing or melted chocolate.
Chill.
