Heat oven to 400 degrees F.
Bring water, butter, sugar and salt in saucepan to boiling over high heat. Add flour all at once; stir with wooden spoon until mixture forms a ball that pulls away from side of pan. Cook another 2 minutes, stirring continuously.
Remove from heat. Add eggs, one at a time, beating well with a wooden spoon after each addition. When all eggs have been added, continue to beat until shiny.
Scrape paste into large pastry bag without tip. Pipe 12 equal puffs, about 2 inches in diameter, onto ungreased baking sheet, spacing about 2 inches apart.
Bake in 400 degree F oven 35 to 40 minutes or until puffed and golden. Turn oven off. Let puffs stand in oven 10 minutes with the door slightly ajar. Transfer to wire rack to cool completely.
Transfer ice cream to bowl; let soften. Stir in extract and crushed candy canes. Cover; return to freezer.
Cut cooled puffs in half horizontally; remove any wet dough from centers. Using 2-1/2-inch ice-cream scoop, place scoop of peppermint ice cream on each puff bottom. Place a puff top on each ice-cream ball. Place in freezer.
Melt red and green chocolate disks separately in small saucepans over low heat. Drizzle over each profiterole. Return to freezer to harden before serving. Makes 12 profiteroles.