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COMBINE Cream Cheese and Sugar in a large bowl and beat until smooth.
RESERVE ½ cup of COOL WHIP Whipped Topping.
FOLD in COOL WHIP Whipped Topping until well blended.
TRANSFER to airtight container and place in refrigerator for 3 hours.
REMOVE from refrigerator and divide into thirds, color each with food coloring.
TRANSFER into plastic resealable bags or decorator bag fitted with a large round tip.
ADD Graham Crackers to a resealable bag and crush.
SQUEEZE Cheesecake mixture into dessert glasses, adding crumbs between each layer.
ADD reserved COOL WHIP Whipped Topping to a resealable bag and add a large dollop to the top, add sprinkles if desired.
STORE in refrigerator until ready to serve, store leftovers in refrigerator.