Spray a 8x8x2 baking dish lightly with cooking spray.

In a heavy duty 2-quart saucepan add the sugar, corn syrup and water. Cook on high heat until mixture starts to boil.

Reduce heat to medium and clip a candy thermometer to side of pan. Continue to cook until temperature reaches 300°F. Remove thermometer and remove pan from heat.

Add 3-5 drops of red food coloring and 1-2 teaspoons of peppermint extract depending on how strong you like it. I used 1 teaspoon and it had good flavor but I could have used more. I also used 3 drops of red food coloring and my candy came out a light red color. If you want a darker red, be sure to use about 5-6 drops of food coloring. Mix well.

Pour the mixture immediately in the baking pan and allow to cool. Let the mixture stand about 5 minutes until a film develops over the surface. Take a metal spatula and make lines on the surface to make 1/2" inch squares. Be sure to not push to hard so that you don't break the surface. Wait a few minutes and retrace the lines again with the spatula making it deeper.

Allow to cool completely and then remove from dish. I used a butter knife and it came out pretty easily. Break the candy into squares using the lines you made with the spatula.

Roll candy in the confectioners sugar and shake of excess sugar.