(Note on the Cool Whip -- It tasted just as good if you add more Cool Whip. So if you like, adding more cool whip will work).
Add cream cheese and butter to bowl and mix till well blended together. (I like to use my KitchenAid mixer!).
Add powdered sugar a little at a time until well blended.
Add vanilla while the powdered sugar is mixing.
Add Cool Whip to the mixture.
Now you are done. It goes well with many different cut up fruits. I haven't tried it with low fat cream cheese or low fat Cool Whip yet. When I do I will post my results. I hope you enjoy this as much as my family enjoys it!