Process Cheddar cheese, cream cheese, and next 6 ingredients in a blender or food processor until smooth, stopping to scrape down sides. Cover and chill 1 hour.
Shape cheese mixture into 3 (10-inch) logs. Press opposite sides of each log in chopped cranberries; press remaining sides in toasted sesame seeds. Gently twist log to form spiral stripes.
Curve one end to form a cane. Place on a wax paper-lined baking sheet. Cover and chill 1 hour. Serve with assorted crackers.