Place the fruit cocktail and macapuno (young coconut strings) in a fine-mesh strainer and let them drain thoroughly for 30-60 minutes, gently pressing occasionally to remove excess liquid. This step is crucial because excess moisture will dilute the creamy sauce and make the salad watery. While draining, you can prepare the other components.
In a large bowl, whisk together the chilled Nestlé All-Purpose Cream, sweetened condensed milk, vanilla extract, and salt until smooth and well combined. The chilled cream will help the mixture come together more easily and maintain a light, fluffy texture. I prefer to chill my bowl beforehand to keep the cream mixture cool while working—this helps preserve that silky consistency that makes Filipino fruit salad so luxurious.
Add the thoroughly drained fruit cocktail and macapuno from Step 1 to the cream mixture from Step 2, folding gently with a spatula until all fruits are evenly coated. If using cheese, fold it in now for added texture. Transfer to a serving bowl or storage container and refrigerate for at least 4 hours, or preferably overnight, to allow flavors to meld and the salad to chill completely.
Just before serving, gently stir the chilled fruit salad to redistribute the cream, then fold in the halved maraschino cherries for a pop of color and festive touch. I like to add the cherries right before serving rather than earlier so they keep their bright color and slight firmness. Serve cold directly from the refrigerator for the best texture and flavor.