Gather your ingredients and combine cream cheese and powdered sugar in a mixing bowl. Blend until smooth, about 2-3 minutes.

Pour in the melted chocolate and vanilla extract, mixing thoroughly until smooth, about 1 minute.

Add red food coloring a few drops at a time, stirring until evenly distributed for a blood-red hue.

Cover the bowl with plastic wrap and refrigerate for about 30 minutes to firm up.

Form the mixture into 1-inch balls and place them on a parchment-lined tray.

Roll each ball in cocoa powder until evenly coated, optionally using chocolate sprinkles.

Place a candy eyeball on each truffle, pressing gently to secure.

Serve chilled or at room temperature on a platter.