In a medium-sized mixing bowl, combine softened cream cheese, powdered sugar, and vanilla extract. Blend until smooth and lump-free, about 2-3 minutes.

Gently fold in drained maraschino cherries into your cream cheese mixture until each cherry is well-coated.

Scoop a generous tablespoon of the creamy mixture and wrap it around a cherry to form a ball. Repeat until all cherries are coated.

Cover the tray with plastic wrap and refrigerate for about 30 minutes to firm up.

In a microwave-safe bowl, heat white chocolate chips in 30-second intervals until smooth and glossy, about 1-2 minutes.

Dip each chilled cherry bomb into the melted white chocolate, allowing excess to drip off.

Roll the coated cherry bombs in graham cracker crumbs and chopped pecans while the chocolate is still wet.

Return the coated cherry bombs to the baking sheet and refrigerate for an additional hour to set.

Once the chocolate has set, serve the cherry bombs on a festive platter or package them as gifts.