Prepare a clean, flat surface or a baking sheet lined with parchment paper.

In a medium saucepan, combine 1 cup granulated sugar, ½ cup light corn syrup, and ½ cup water. Stir gently until well mixed.

Place the saucepan over medium heat and bring to a boil, stirring until sugar dissolves. Allow it to simmer until it reaches the hard-ball stage of 250°F (121°C).

Remove from heat and let it cool for a few minutes until bubbling subsides.

Add 1 teaspoon peppermint extract and ¼ teaspoon red food coloring to the warm mixture. Stir until well combined.

Let the mixture cool until safe to handle, about 10-15 minutes. Dust your work surface with powdered sugar.

Dust your hands with powdered sugar and divide the mixture into small portions, rolling each into a rope about ¼ inch in diameter. Cut into 1-inch pieces.

Dust the shaped pieces with powdered sugar and place on prepared parchment paper, space them apart. Allow to set at room temperature for at least 2 hours.

After setting, transfer the peppermints into an airtight container for storage.