In a mixing bowl, beat together cream cheese and unsalted butter until smooth and creamy, about 2-3 minutes. Gradually mix in powdered sugar until fully incorporated. Fold in dried cherries, pecans, bourbon, and vanilla extract.

Transfer the batter to a container or cover with plastic wrap. Refrigerate for about 1 hour or freeze for 20-30 minutes until firm.

Scoop portions and shape them into 1-inch balls. Place on a lined baking sheet and chill for another 20 minutes.

In a microwave-safe bowl, melt chocolate and coconut oil in 30-second intervals, stirring until smooth, about 1-2 minutes.

Dip each chilled ball in melted chocolate, ensuring a full coating. Allow excess chocolate to drip off.

Let coated balls sit at room temperature for 15-20 minutes to harden. Store in an airtight container.