Using a stand mixer, hand mixer, or slotted spoon, mix the softened cream cheese and powdered sugar until smooth and creamy.
In a small bowl, microwave the chocolate chips in 30-second intervals until they are completely melted.
Add the chocolate chips to the cream cheese mixture and beat until well-combined. At this point, you can optionally add in vanilla extract or liqueur, chopped nuts, coconut flakes, and/or dried cherries. Cover the truffle mixture with plastic wrap and chill it in the refrigerator for an hour.
Using a tablespoon to guide your measurements, portion and roll the truffle mixture into 1-inch balls in the palms of your hands. Pour some coconut flakes into a shallow bowl and roll the truffles in the flakes until evenly coated.
Serve immediately and refrigerate between snacking. Enjoy!