Add the softened cream cheese and butter to a mixing bowl. Beat with a hand mixer until smooth and fluffy.

Add the powdered sugar and vanilla extract. Mix again until fully combined and creamy.

Fold in the mini chocolate chips and crushed graham crackers using a spatula.

Scoop the mixture onto a sheet of plastic wrap and shape it into a ball.

Wrap tightly and chill in the refrigerator for at least 1 hour, or until firm.

Place the crushed vanilla wafers or cookies on a plate. Add chopped pecans or walnuts if using.

Unwrap the chilled cheeseball and roll it gently in the coating until fully covered.

Transfer to a serving plate and serve with graham crackers, pretzels, strawberries, or apple slices.