Preheat oven to 350°F.
Line muffin pan with 12 paper baking cups. Place 1 vanilla wafer in each.
Beat cream cheese, sugar, corn starch and cocoa in a large bowl with an electric mixer until well mixed. Add egg and blend well. Add corn syrup, vanilla and red food coloring. Beat 1 minute.
Pour filling into paper baking cups, dividing evenly. Bake for 18 to 20 minutes, until just set. Cool on wire rack for 10 minutes.
Chill for 1 hour. Top with whipped cream, chocolate shavings or sprinkles, as desired.
Recipe Note: Cheesecakes can be baked without liners but first spray muffin pan with cooking spray. Chill in pan for at least 1 hour after baking. Carefully run thin knife around each cheesecake and carefully invert.