In large bowl, mix the mashed potatoes and hot water. Add cream cheese; beat until blended. Stir in the ham, onions, bacon and Cheddar cheese.
Separate crescent dough into 8 triangles. Slightly stretch corners of short side of each triangle to make longer. Place on ungreased cookie sheet. Spoon 1/3 cup potato mixture on center of each triangle. Bring corners to center over filling, overlapping ends; press gently to seal.
Mix butter and pepper sauce; brush over tops. Bake at 375°F 10 to 12 minutes or until golden brown.