In a small dish stir gelatin into water and set aside.
In a saucepan over medium heat, stir together tomato soup and cream cheese until melted and well blended.
Stir gelatin and mayonnaise into soup mixture until blended. Add shrimp, onion, celery, bell pepper, horseradish and Tabasco. Mix well.
Pour into any of the following: 1- well oiled 4-cup mould, 2 - 2 cup bowls or 4-1 cup bowls. Place in refrigerator for at least 5 hours to set.
If using mould, when ready to serve, simply turn out onto a platter.