In a large bowl mix together cream cheese, ranch seasoning, diced pepper, and 1 cup of the shredded cheese. I used a hand held mixer, but you can use a spoon as well.
Lay out a decent amount of plastic wrap on flat surface. Sprinkle some shredded cheese on plastic wrap.
Scoop cream cheese mixture on plastic wrap on top of sprinkled cheddar cheese.
Shape the cream cheese mixture into a ball shape using your hands, and take the rest of the shredded cheese and cover the entire ball.
Once the ball is covered evenly with shredded cheese, you want to wrap the ball completely in the plastic wrap. Make sure none of it is exposed.
Take the rubber bands, and place them around the ball, making a star if you will.
Let sit in fridge wrapped up with rubber bands for a few hours.
When ready to serve, take off rubber bands, unwrap the plastic wrap and place on serving dish. Top with the reserved pepper stem, and enjoy!!!