After making something like sixty of these little cheese guys for orders last year, I figured I'd share what I wish someone had told me before the first one. The body is just a sphere worked in continuous rounds, so start with a magic ring and count your stitches on every round. The first few I made came out lopsided because I was rushing the increase rounds. Use a hook a size down from what the yarn label says. Tighter stitches mean the stuffing won't poke thru later. Stuffing is where most people go wrong, honestly. Understuff and it slumps, overstuff and your increases bulge out like a lumpy orange. I aim for firm but squishy, adding small pinches at a time. Put the safety eyes in before you close the sphere, not after. Ask me how I know. You want them low and close together on the face side, that's what gives the derpy look everyone loves.
The wax shell is the fun part and it's easier than it looks. Work a flat rectangle in back loops only, long enough to wrap around the sphere with a slight overlap, then seam it up the side and close the top with a few stitches so it pops off and back on. The back loops give you those little ridges that read as wax ridges. Red acrylic with a slight sheen beats matte cotton here, it catches the light better. One last tip, use a slightly lighter red for the little tab on top of the shell. Two reds that are almost the same shade looks odd, but a clear contrast makes the whole thing click. And block the shell over the actual cheese body while it dries so it holds the round shape instead of sitting flat.