Remove both blocks of cream cheese from the refrigerator and set them on the counter. Let them soften at room temperature for 30–60 minutes. Checkpoint: You are ready to move on when the cream cheese indents easily with a finger and there are no cold, firm spots.
Place the softened cream cheese in a large mixing bowl. Use a hand mixer on medium speed and beat for 1–2 minutes until completely smooth, lump-free, and fluffy. The mixture should look pale and creamy with no streaks.
Add 1 cup of the shredded sharp cheddar, 1/2 tsp garlic powder, 1/2 tsp onion powder, 1 tsp smoked paprika, salt and black pepper to taste, and 1 tbsp Worcestershire sauce. Mix on low speed for 1–2 minutes until everything is fully combined and the mixture looks uniformly orange-tinted. Checkpoint: You are ready to move on when the mixture is thick, evenly colored, and holds its shape when scooped.
Switch to a spatula. Add the chopped green onions and bacon bits. Fold them in gently for about 30 seconds until the green flecks and bacon bits are evenly visible throughout the mixture.
Lay a large double sheet of plastic wrap flat on your counter. Scoop the entire cheese mixture into the center of the wrap. Use the plastic wrap to gather and press the mixture into a squat, slightly flattened round ball — roughly 5 inches across and a little wider than it is tall. This shape mimics a real pumpkin silhouette.
Wrap a second layer of plastic wrap tightly around the ball. Then take 4–6 rubber bands (or strands of kitchen twine) and wrap them evenly spaced from top to bottom, pulling them snugly around the ball — not so tight they cut through, but tight enough to create clear vertical indentations. Checkpoint: You are ready to move on when you can see 4–6 visible pumpkin-like segments from the side.
Place the wrapped cheese ball on a plate and refrigerate for a minimum of 2 hours, ideally overnight. The refrigerator should be between 35–40°F. The ball is ready when it feels completely firm and solid when pressed and the ridges hold their shape without bouncing back.
When ready to serve, remove the rubber bands and unwrap the plastic wrap carefully. Spread the remaining 1 cup of shredded cheddar (or crushed cheese crackers, or finely chopped toasted pecans) on a large flat plate. Roll and press the cheese ball against the coating on all sides for 2–3 minutes until the entire exterior is evenly covered with no bare cream cheese showing. Checkpoint: You are ready to move on when the outside is fully coated and has an even orange or golden color all over.
Set the coated cheese ball on your serving platter. Press the bell pepper stem firmly into the top center where the twine lines meet. It should stand upright and complete the pumpkin look. Arrange crackers, pretzels, sliced bell peppers, celery sticks, or pita chips around the base and serve immediately.