Step 1: In a large bowl, beat the softened cream cheese with an electric mixer until smooth and creamy, ensuring no lumps remain.
Step 2: Gradually add the powdered sugar and vanilla extract to the cream cheese mixture, mixing until fully incorporated and the mixture becomes light and fluffy.
Step 3: Gently fold in the packed cotton candy until it is mostly dissolved into the cheesecake mixture. Work quickly, as cotton candy melts when exposed to moisture.
Step 4: Cover the bowl with plastic wrap and refrigerate the cheesecake mixture for at least 30 minutes to allow it to firm up, which will make it easier to roll into balls.
Step 5: While the cheesecake mixture chills, prepare the coating by combining the graham cracker crumbs and melted unsalted butter in a separate shallow dish. Stir until the crumbs are evenly moistened. If desired, mix in 2 tablespoons of granulated sugar for extra sweetness.
Step 6: Once the cheesecake mixture is firm, scoop out small portions (about 1 tablespoon each) and roll them into smooth balls with your hands.
Step 7: Roll each cheesecake ball in the graham cracker crumb mixture, pressing gently to ensure it's evenly coated on all sides.
Step 8: Place the coated cheesecake bombs on a parchment-lined baking sheet or plate. Refrigerate for at least 1-2 hours, or until thoroughly chilled and firm. This chilling time is crucial for the bombs to hold their shape.
Step 9: Just before serving, garnish with extra wisps of cotton candy for a beautiful, whimsical presentation. Serve immediately and enjoy your magical dessert!