1. Place half the vanilla wafers in food processor. Process to fine crumbs. Remove crumbs and reserve. Repeat with remaining wafers.
2. Add pretzels to processor. Process to fine crumbs to make 3/4 cup crumbs.
3. Combine wafer crumbs, pretzel crumbs, confectioners sugar, margarita concentrate and cream cheese in a large bowl. Add tequila and liqueur, if desired; stir until blended. Divide mixture in half. Wrap each half tightly in plastic wrap; refrigerate for 2 hours.
4. Combine half the grated lime rind with the decorator sugar in small saucer. Combine remaining half of rind with granulated sugar in second small saucer.
5. Remove plastic wrap from one half of dough. Tear off pieces of dough and shape into 1-inch balls. Roll each in green or white sugar. Work quickly, because dough dries rapidly. Repeat until all dough is used. Store in an airtight container in refrigerator up to 1 week. Makes 7 dozen.