In a medium mixing bowl, combine cream cheese, shredded Mexican blend cheese, mozzarella cheese, and ranch seasoning. Add in diced jalapeno peppers and crumbled bacon if desired, then mix well.

Take a wonton wrapper and place it on a clean surface. Spoon about 1-2 teaspoons of the filling into the center. Moisten the edges with water, fold, and pinch to seal securely.

In a deep pan, pour in vegetable oil to reach about 2 inches deep. Heat to around 350°F (175°C). Test by dropping a small piece of wonton wrapper in; if it bubbles, it's ready.

Carefully place the filled wontons into the hot oil, frying for about 50 seconds to 1 minute on each side until golden brown and crispy. Use a slotted spoon to turn them halfway.

Remove from oil and transfer to a plate lined with paper towels to absorb excess oil. Allow to cool slightly before serving.