In a microwave-safe bowl, heat the white chocolate for 15 seconds. Stir and heat again until chocolate is melted and smooth. Set aside.
In a medium mixing bowl, use an electric mixer to combine the cream cheese, powdered sugar, peppermint extract, and sour cream. Beat on low speed until the ingredients are incorporated. Then increase speed to medium for an additional 1 to 2 minutes until the mixture is smooth and creamy.
Pour in the melted chocolate, and mix on low speed until well combined.
Transfer dip to a serving bowl, and top with crushed candy canes, soft mint candies, or white chocolate shavings.
Store any leftovers in the refrigerator for up to 5 days in a sealed container.
This recipe makes 1.5 cups of dip - about 12 ounces.
Full fat cream cheese and sour cream works best. The flavor is richer and the dip has a creamier texture than when we use low-fat products.
Red food coloring could be used to make the dip pink/red in color. It could be added as an optional ingredient.
If you want a stronger mint flavor, you can add more peppermint extract AFTER mixing the dip together.