Process walnuts in food processor, using on/off pulsing action until walnuts are ground, but not pasty. Remove from food processor; set aside.

Process cream cheese, pesto and feta cheese in food processor until smooth. Spread 3/4 cup cheese mixture on waxed paper and form 4-inch log. Wrap waxed paper around cheese log. Repeat with remaining cheese mixture. Refrigerate logs at least 4 hours, until well chilled. Roll each chilled log to form 5-inch log.

Combine walnuts and pepper. Roll 1 log in nut mixture to coat. Combine 2 tablespoons carrot and 2 tablespoons parsley. Roll remaining log in carrot mixture to coat. Serve immediately, or wrap and refrigerate up to a day before serving. To serve, thinly slice log and serve with crackers. Garnish as desired.