In a large mixing bowl, beat 8 ounces of softened cream cheese with 1 cup of powdered sugar and 1 teaspoon of vanilla extract using an electric mixer. Mix on medium speed until smooth and creamy, about 2-3 minutes.

Gently fold in 2 cups of whipped topping into the cream cheese mixture using a spatula for a light hand.

Scoop out about 1 tablespoon of the cheesecake mixture and roll it into a ball. Place on a parchment-lined baking sheet. Freeze the balls for 20-30 minutes.

Crush 15-20 vanilla sandwich cookies into fine crumbs. Combine cookie crumbs with 2 ounces of softened cream cheese. Mix until a dough forms.

Remove cheesecake balls from the freezer. Take a small portion of the cookie dough, flatten it, place a cheesecake ball in the center, and wrap the dough around it.

Prepare your coating by mixing cotton candy-flavored sugar, crushed freeze-dried strawberries, and optional pink sprinkles. Roll each cheesecake bomb in the mixture.

Refrigerate the coated cheesecake bombs for at least 1 hour to set.