01 - In a mixing bowl, beat the softened cream cheese with granulated sugar and vanilla extract using a hand mixer or stand mixer until the mixture is smooth and creamy with no lumps remaining.
02 - Add the heavy whipping cream to the cream cheese mixture and continue beating until the filling becomes light, fluffy, and holds its shape.
03 - Using a tablespoon measure, scoop out portions of the cheesecake filling and roll them between your palms to form small, uniform balls. Arrange the balls on a parchment-lined baking tray.
04 - Transfer the tray to the freezer and chill the cheesecake balls for 15 to 20 minutes until they are firm enough to handle without losing their shape.
05 - Working with one cheesecake ball at a time, take a small piece of cotton candy and gently flatten it in the palm of your hand. Place a chilled cheesecake ball in the center and carefully wrap the cotton candy around it, pinching the edges to seal. Roll gently between your hands to create a smooth, round puff.
06 - If desired, decorate the finished puff balls with colored sprinkles or a dusting of edible glitter for a festive presentation.
07 - Serve immediately for the best texture and fluffiest cotton candy coating. Alternatively, refrigerate until ready to serve, noting that the cotton candy will begin to dissolve if exposed to moisture for extended periods.