Lay a large sheet of plastic wrap on your counter. In the center, sprinkle the 1/2 cup of shredded cheddar cheese. Place the cheese mixture over the cheddar on the plastic wrap.
Gather the edges of the plastic wrap and twist them Place 4 thick rubber bands or kitchen twine around the plastic wrap to segment the cheese ball and give it a pumpkin-like appearance.
Once chilled, cut off the rubber bands. Patch any bare spots on the cheese ball with the remaining grated cheese. Insert the bell pepper stem on top to mimic a pumpkin stem.