Put the cream cheese, cheddar, garlic, parsley, cayenne, black pepper, and salt in a food processor. Process for 5 to 10 seconds, until well blended. Scrape the mixture into a bowl, cover, and refrigerate for 1 hour.

Spread the chopped walnuts on a plate. Shape the cheese mixture into 35 to 40 small cheese balls, each about the size of a large marble. Roll each cheese ball in the walnuts, coating the outside (you may to press a little to ensure sticking).

Serve the cheese balls on a large platter. You can put a toothpick in each ball, but you could also surround them with crackers and let guests use their hands. It all depends on what kind of party you’re having.