Heat oven to 350°F. In medium bowl, combine crust ingredients; press in bottom of ungreased 10-inch springform pan.
In large bowl, combine cream cheese and sugar; beat until light and fluffy. Add eggs 1 at a time, beating well after each addition. Add sour cream and vanilla; blend well. Place 1 cup mixture in small bowl; stir in peppermint extract and food color.
Pour remaining cream cheese mixture over crust in pan. Drop spoonfuls of peppermint mixture over cream cheese mixture. Pull knife randomly through batter in wide curves; turn pan and repeat for swirl effect.
Bake at 350°F. for 50 to 60 minutes or until center is set. (To minimize cracking, place shallow pan half full of hot water on lower oven rack during baking.) Cool at room temperature on wire rack. Cover; refrigerate at least 24 hours before serving.
To serve, carefully remove sides of pan. Garnish as desired. Store in refrigerator.