In a large mixing bowl, beat softened cream cheese with an electric mixer on medium speed for 1-2 minutes until smooth and fluffy.

Fold in sour cream and mix gently for about 1 minute until well combined and creamy.

Gently fold in thawed whipped topping until no white streaks are visible.

Add drained crushed pineapple, mandarin oranges, and halved maraschino cherries, folding gently for 1-2 minutes.

If using, fold in chopped walnuts/pecans, mini marshmallows, and shredded coconut for another 1-2 minutes.

Transfer the mixture into a loaf pan or an 8x8 dish, smoothing the top and covering it tightly with plastic wrap.

Freeze for at least 4 hours, preferably overnight, until firm.

Let sit at room temperature for 5-10 minutes before slicing and serve chilled.