PREHEAT oven to 350°F Mix cream cheese and 3/4 cup of the Parmesan cheese with electric mixer on medium speed until well blended.
SEPARATE crescent rolls into 8 rectangles; press perforations together to seal. Spread 3 tablespoons cream cheese mixture onto each rectangle; top with red pepper and parsley. Fold long end of dough up over filling to center; fold up again to enclose remaining filling. Cut each into 4 equal size squares. Place seam sides down on baking sheet. Sprinkle with remaining 1/4 cup Parmesan cheese.