In a mixing bowl, add the softened cream cheese & the shredded cheddar. Mix them together until the mixture's smooth & evenly combined.
Add the enchilada sauce and taco seasoning to the cheese mixture, again stirring until evenly incorporated into the mixture.
Lay a sheet of cling wrap out flat over a clean counter top. Scoop the cheese mixture out and onto the center of the piece of plastic wrap in a giant dollop.
Fold the plastic wrap over the cheese mixture, wrapping it to seal. Using your hands, gently shape the mixture into a ball. It doesn't have to be perfect, pumpkins rarely are.
Transfer the mixture to the refrigerate for an hour and a half. Transfer the chilled cheese ball to the freezer for 30 minutes.
When ready to serve, pour the crushed crackers onto a flat plate. Remove the cheese ball from the freezer, carefully pulling away the plastic wrap.
Roll the cheese ball in the cracker crumbs to completely cover the outsides. Use your hands to gently press in the crumbs in any spots where necessary.
Press the bell pepper stem gently into the top center of the cheese ball.
Transfer the cheese ball to a serving platter. Place crackers, and any other dipping items, including a spreader on the serving tray fanned out around the cheese ball.
Serve immediately, and enjoy!